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Fake gold hits NYC
Federal agents are investigating the peddling of bogus gold bars in Midtown. The Post has learned as many as 10 fake gold bars — made up mostly of relatively worthless tungsten — were sold recently to unsuspecting dealers in Manhattan’s Midtown Diamond District. The price of gold has risen more than 600 percent since January 2000, while the S&P 500 index is down 0.6 percent over the same period. The 10-oz. gold bars are hugely popular with Main Street investors, and it is not known how many of the fake gold bars were sold to dealers — or if any fake bars were purchased by the public. Federal agents are ... (full story)
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