Not at all. Although, if you still don't feel okay with it, you can test it out yourself.
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If your x and z coordinates are both multiples of 16, you are standing on the corner of a chunk.
Probably a HUGE chunk of lava. Or glitch.
Diamonds are a rare mineral in minecraft found by mining. Diamond veins spawn once per chunk, and are found best on level 14.
It appears from levels 2 - 29, with an average of 7.5 gold ore per chunk!
If you press f3, the y: is the height or what is referred to as a level or layer. You can find gold from levels 2 - 29. There are about 8 gold blocks per chunk. A chunk consists of a 16 x 16 from 0 - 256 height of the world. You can also find what chunk you're in by pressing f3, and x and z will have (c) at the end. This is the chunk.