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Sunday
Aug212011

Gold Thefts Rise as Prices Shoot Up

Ablestock.com/Thinkstock(LOS ANGELES) -- The stock market was down four percent last week, but gold continues to soar.

The precious metal is now so valuable that police have issued a warning to anyone wearing gold. LAPD Commander Andy Smith says with the price of gold sky rocketing, criminals are trying to profit too, even if it means snatching it right off of people's necks.

"I think they see the dollar sign and I think they are going for it and willing to take a lot more of a chance than they use to," Smith says.

The price of gold is currently at $1,800 per ounce.

Copyright 2011 ABC News Radio

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