As Gold Prices Soar, Criminals Catch On


It seems like nearly every day this summer, the price of gold hits a new high. Today is no exception. Not surprisingly, criminals around the world are starting to take notice. First, from Stuart Pfeifer writing in the LA. Times:

So far this year, gold chains have been snatched from the necks of at least 110 people during street robberies in Olvera’s South Los Angeles division. His officers are circulating fliers and showing up at churches and community centers to warn residents to stop wearing gold in public, or at least to tuck it under their clothes.

L.A.’s downtown jewelry district has been hit by a recent surge of smash-and-grab jobs, like this one caught on camera in June:

Authorities in Oakland are reporting a sudden rise in street muggings where thieves are snatching gold jewelry right off of people.

Last year, Iraq was hit by a handful of high profile gold heists that turned deadly, like this one last May, and this one in October.

And in Guyana, gold miners are being targeted. Last week, a miner was shot to death and his son was beaten and buried alive. According to the AP, so far this year, 26 people have been killed in Guyana gold mines.

Mike B

I remember in the 80's my father taking me out on neighborhood watch patrols because the price of Gold was up over $2000 2011 dollars and home jewelry thefts were becoming more popular. If only there was a way to get a fair price for one's scrap gold instead of all the Cash 4 Gold places which might as well be theft.


Now if someone wanted to be really mean, they'd start wearing a lot of showy gold plated bling instead of the real thing.

Caleb b

In other news, Mr. T has risen to number 3 on Forbes richest people in the world.


Also look at the copper wire thefts, same market forces.

Eric M. Jones.

There was a time, and it might come again, when a well-dressed man, taking out his well-dressed lady for an evening, tucked a small gun into his pocket to prevent this sort of thing.

Can you say PPK?


And all of this for a metal used primarily as a decoration.

Phil Jones

Why didn't they bring a bag?