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Tracking all things that relate to and affect the price of gold.
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Hal
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Scooped by Hal onto Gold and What Moves it. |
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A gold bar sold by China's state-controlled China National Gold Group showed signs of rust.
BEIJING(BullionStreet): A gold bar sold by China's state-controlled China National Gold Group showed signs of rusting, reports Beijing Times.
According to the tabloid, In October 2010, a man identified only by his surname, Shen, purchased what he believed to be pure gold product manufactured by China National Gold from a Beijing department store for 14,900 yuan ($2,400).
The bar was stored in a bank safe until Dec. 18, when Shen noticed that it had developed red spots and what appeared to be rust corrosion on the base. As the most non-reactive of all metals, gold should never rust unless it has been mixed with other metals or has been contaminated with additives.
On Dec. 24, Shen took the gold back to the store and was offered a refund once staff verified that it was the same item he originally purchased.
Shen refused, saying that all he wanted was an explanation. ...
Hal's insight:
LOL China not minting pure gold? LOL go figure. Delete the scoop?
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It ain't over. That's for sure.
hat tip to http://economicsignsofthetimes.blogspot.com/2013/02/wednesday-roundup-02-20-13.html ;