Gold Industry Shaken as 83 Tons of Fake Gold Bars Used to Secure $2 Billion Loans in China
The gold industry has been shaken after it was discovered that 83 tons of fake gold bars have been used as collateral for loans worth 20 billion yuan from 14 financial institutions to a major gold jewelry manufacturer in Wuhan, China. This amount of gold “would be equivalent to 22% of China’s annual gold production … Read more
