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AAP

National

Melissa Meehan

Fraud warning from 'gold squad' as price hits new high

Gold David Michael the Perth Mint WA Police

Fraudsters are trying to cash in on record gold prices by selling fake gold bars and coins online. (Dan Himbrechts/AAP PHOTOS)

If a gold deal sounds too good to be true, it almost certainly is.

As gold reaches the record price of more than $5300 an ounce, the Perth Mint and WA Police are warning buyers of an increase in counterfeit gold.

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