This story about the purity of gold refined by the Perth Mint is overblown. It was brought as if gold delivered to the Shanghai Gold Exchange was fake (diluted), but the purity was never less than 99.992%.
Discussion
True.
Media reported it as if the purity was 0% and they gave random yellow metal.
But also this does bring up an important factor that gold can't be audited by an average person with limited resources.
With gold it is more of a team effort.