Sorry!! The article you are trying to read is not available now.
Politics And Regulation
Trading And Investing
How To Trade
How To Invest
Wall Of Worry
Hoofy & Boo
From The Buzz & Banter
MV Education center
t3 live subscriptions
Thieves Target Indian-Americans for "High-Quality" Gold
September 30, 2011 12:50 PM
As the price of any commodity rises,
But alpha-seeking thieves have discovered a sure-fire way to beat the traditional robbery market:
Go after Indians.
Sgt. Jeff Swadener of the Fremont (California) Police Department
The Bay Citizen
's Scott James
that "Indian-Americans [are] known for owning high-quality gold of 20 and 22 karats," making them "lucrative targets."
To Indians, explains James, "The precious metal indicates prosperity, is a means of savings, and some gold jewelry can signify a woman’s marital status. It is a common wedding gift in many Indian cultures. Thieves, it appears, have learned of these traditions, leading to a rash of robberies throughout Silicon Valley’s Indian-American communities in recent months."
Home invasions have been on the rise too, as Indian families "inadvertently advertise" easy scores to enterprising burglars who know they traditionally leave their shoes outside the front door.
“No shoes, no one home,” Sgt. Swadener told James.
Interestingly, reports of Indians being robbed for their gold have made the rounds before.
In 2009, the
highlighted a growing trend
in the D.C. area, with Indian households being relieved of their gold in "a months-long series of daytime break-ins."
"The burglars are discerning," wrote WaPo's Mary Pat Flaherty. "They have taken 22-carat pieces but left behind sterling silver and well-crafted costume jewellery. They have sifted through floor-length gowns lovingly stored in closets and plucked every custom-made sari threaded with gold worth thousands, disdaining saris worth only hundreds."
One victim admitted, "If you know our customs, you know we carry a lot of gold."
Which is something their countrymen know, as well:
No positions in stocks mentioned.
The Bay Citizen
See All Tickers »
More From Minyanville
Trading and Investing
MV Education Center
Buzz & Banter
Cooper's Market Report
The Options Strategist
Directory of Terms
T3 Live Subscriptions
Buzz and Banter.com
Ruby Peck Foundation
Terms and Conditions
Follow Minyanville on Facebook
Follow minyanville on Twitter
Follow Minyanville on Linkedin
Subscribe to Our RSS Feed
©2017 Minyanville Media, Inc. All Rights Reserved