Gold prices gained on Friday, supported by a weaker greenback and geopolitical woes, but were on course for their worst monthly performance since September 2023 due to a dollar rally this month following Donald Trump's U.

Gold remains on pace for its worst monthly performance in over a year despite rising for a fourth straight day, as the metal continues to recover from its heavy losses during the selloff driven by Donald Trump’s election win.

Gold prices have been witnessing an uptick in the last few days but the Bullion has declined 3 per cent so far in November.

China says it has discovered the world’s largest known deposit of gold, estimated to be worth over $80bn (£63bn). The deposit at the Wangu gold field in central China could yield more than 1,000 tonnes of gold, the Geological Bureau of Hunan was quoted as saying by Chinese state media.

Officials say that a gold field deposit in Hunan province could yield over 1,000 tonnes of the precious metal.

A deposit of high-quality gold ore containing around 1,000 metric tons (1,100 US tons) of the precious metal has been discovered in central China, according to Chinese state media. Valued at approximately 600 billion yuan or US$83 billion,