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Home The BlogRising Price of Gold Attracts Thieves


Rising Price of Gold Attracts Thieves

As the precious metal reaches an all-time, thieves are stealing gold to melt down and be sold on across the country. Reports on the number of robberies at jewellers across the country have increased due to the price of gold doubling in the past two years. This month it was announced the value of gold had reached a record breaking 1,800-dollar per ounce. Police have urged jewellers to be aware of the issue and increase security at shops, as independent gold dealers across the country are swopping stolen gold for large amounts of cash leaving little trails of crime. Police are struggling to tackle the problem as the rise in gold has increased the number of independent gold dealers not asking for ID. Police are insisting the only way to fight back against gold robbers is to implicate a change in gold trading laws so that all transactions of scrap metal trading requires ID to be taken and the transaction to be signed and recorded. Similar crime has been reported in America with robbers grabbing jewellery off people passing by to be melted down and exchanges for cash. The UK has seen victims reporting stolen gold from their homes. An elderly woman and her son from Wolverhampton had over £4000 worth of gold stolen from their home last month.