A place of great wealth or a source of valuable items or unexpected riches; named after the historic city famous for its diamonds.
From Golconda, an actual city in India (near Hyderabad) that was a major diamond-trading center from the medieval period through the 17th century. The city's name became synonymous with wealth and precious gems in English.
Golconda produced some of the world's most famous diamonds, including stones that ended up in European crown jewels—so the city became a metaphor for any lucky strike or treasure find!
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