Gold Plated tungsten bars story laid to rest Print

Last year's story about the 400-ounce 'gold bars' which were really clever fakes and which had been innocently bought by the Chinese central bank has finally received some more intelligent comment.

The bars were supposedly tungsten with a gold plating, and the Chinese had bought them in good faith, as the real thing. The $400,000 bars were virtually worthless, and the Chinese government was left gnashing its teeth...

But it was the story itself which was fake - read the analysis here. The writer believes the intent of the story was to undermine confidence in buying gold itself.

Well, I'll stick to small bullion coins thanks.