Hide the Gold!

August 24, 2011 in Daily Bulletin

As the price of gold continues to climb higher and higher (as investors continue to seek safety from the markets), it is having the effect of increasing crimes targeted at acquiring gold. This is a somewhat predictable development as thieves are obviously drawn to things of value and as the value of one thing rises, it can usually be expected that thieves will begin to target it more. Already, 110 instances of gold chains being stolen have been reported in one part of Los Angeles. Oakland has reported similar behavior. In addition, jewelry shops have experienced an increased number of break-ins in L.A. This trend hasn’t only been experienced in the U.S. either. Iraq also had some high profile gold heists and gold miners in Guyana have been killed as well. Will these kinds of crimes decrease when gold loses some of its value? Or will the price of gold just keep setting new records? Obviously, we can hope that these crimes will come to an end, but in the meantime, it may be a good idea to keep that gold in a safe place!

Source: Freakonomics Blog