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China has a 'fake gold' problem — locals are getting scammed into buying artificial jewelry - TL;DR CNBC

China has a 'fake gold' problem — locals are getting scammed into buying artificial jewelry

Publishing timestamp: 2024-05-02 20:19:49


Summary

Chinese consumers are being scammed into buying "fake gold" online, with thousands falling victim to inferior or artificial gold being sold as "999 gold." The recent surge in gold scams in China is attributed to the country's high demand for bullion and unsophisticated consumers. The government has released guidelines on how to identify authentic gold jewelry, but the issue of fake goods, including gold, remains prevalent in China.


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Keywords: commodity marketsbusiness newschinagold / us dollar spot

Source: https://www.cnbc.com/2024/05/03/china-has-a-fake-gold-problem-as-more-locals-get-scammed.html


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