Gold’s recent rally has sparked a bullion rush, but along with it came a surge in gold scams in China. Thousands of people in China have been duped into forking out money on “fake gold” — inferior or artificial gold — after trying to purchase so-called “999 gold” online, according to the government. The purest form of gold is commonly referred to as 999 gold, because it has gold content of 99.9%. It is also sometimes referred to as 24-carat gold. “Fake gold is becoming a major problem in China as more Chinese are looking to put their savings into gold,” said China Market Research Group’s Managing Director Shaun Rein. ... (full story)