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Criminals Target Gold Jewelry as Prices Surge Toward $3,000 an Ounce December 17, 2024 (0 comments)
New York, NY--As gold prices climb, criminals are increasingly targeting stores that specialize in gold jewelry, particularly those catering to Asian, Middle Eastern, and Indian communities, according to Scott Guginsky, executive vice president of the Jewelers' Security Alliance (JSA).
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"Gold is the most desirable thing to steal right now," Guginsky told JCK. "It's more desirable than engagement rings. Sometimes it's even more desirable than watches. Criminals pay attention to the fact that it's approaching $3,000 an ounce."
Guginsky highlighted that gold's appeal to criminals stems from its untraceable nature. "You steal it, and within minutes you can melt it down," he said. In places like New York City's Diamond District, stolen gold can quickly be fenced for up to 95% of its market value.
The recent uptick in robberies includes incidents in New York City last weekend, underscoring concerns for retailers handling significant gold inventories.
Learn more details and find combative measures in the article by JSA.