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Counterfeit Gold Infiltrates Hong Kong Retail Market, FT Reports

 
Anonymous Coward
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12/02/2010 12:39 PM
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Counterfeit Gold Infiltrates Hong Kong Retail Market, FT Reports
At least 200 ounces of fake gold have been sold to Hong Kong jewelers and pawnshops, the Financial Times reported, citing a group of goldsmiths in the city.

Haywood Cheung, president of the Chinese Gold & Silver Exchange Society said 10 times that amount may have infiltrated the retail gold market, the Financial Times reported. At current prices, 200 ounces of gold would be worth about $280,000.

[link to www.bloomberg.com]





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