Strong Gold Price Triggers Crime Fears


"Gold's appeal may attract organized crime within the sector."

ABC News

Sections of the gold industry say the high gold price could spark an increase in thefts from mine sites.

Gold has hit record highs this year, selling for up to $1,500 an ounce.

The regional security manager for Barrick Gold, Terry Griffiths, says there are concerns organized crime may try to infiltrate the sector.

"You know an ounce of gold in size isn't very large because gold is very heavy and if someone is getting a return of $1,500 for an ounce of gold, and even on the black market if it was half of that, it's still very lucrative," he said.

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