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Gold price surge leads to wave of crime [Video]

August 19, 2011 | 11:53 am


The surging price of gold has made the precious metal attractive not only to investors but also to thieves. In Los Angeles, police have reported an increase of smash-and-grab robberies at jewelry stores and street muggings in which thieves have snatched gold chains from victims and run away.

The Times reported Friday that police have warned the public not to wear gold jewelry in public to avoid becoming a victim.

Last month, police released a video, below, which captured a robbery at 21st Century Jewelry on South Broadway.

In an interview, the victim of that robbery said he was worried about the valuable, uninsured jewelry that thieves were stealing that day. But mostly he was thinking about his wife and 6-year-old daughter.

“Always I think about them,” he said, requesting that he not be identified out of fear for his safety. “I’m always thinking about my daughter. ... That moment was really scary.”


Soaring gold prices trigger jewelry robberies

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Surveillance video shows attack on blind woman in Little Tokyo

--Stuart Pfeifer

Photo: Security guards outside jewelry stores on South Broadway in L.A. Credit: Jay L. Clendenin/Los Angeles Times