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HONG KONG - Hong Kong, in its position as the back door to the booming Chinese gold market, is a prime location for gold counterfeiters. Haywood Cheung, president of the Chinese Gold & Silver Exchange Society, Hong Kong’s century-old bullion exchange, said goldsmiths and jewelers in the territory had been duped into buying between 200 and 2,000 ounces of a new, hard to detect alloy passed off as bullion.

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