With the gold price sitting at record highs, Hong Kong jewellers and pawn shops have been hammered by one of the most sophisticated scams in which hundreds of ounces of fake gold were traded in the market.
The gold-mad city has woken up to a massive scam as investigators discovered that at least 200 ounces of fake bullion, worth about $250,000 have been traded at the island`s fabled jewellery souks so far this year, Financial Times reported.
This could be a warning for gold obsessed Indians.
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