The two minor nephews were skilled for 15 days to carry out the plan.

The document high rupee gold prices, which negatively impacted affordability and client sentiment, were one of the contributing elements to the decline in jewelry demand. Following the ban of two,000 notes in the course of the quarter, there was a short however notable influence on gold demand. Gold recycling saw a pointy enhance in Q in comparison with the same period in the previous yr, with a exceptional 61% increase.


One of the nephews came out of the station and took the bag with the gold into another automotive. When he arrived on the location, he and a few others acted as in the occasion that they have been in search of the robbers throughout. They contacted the police along with the bike and made a grievance.

A Jeweller Faked A Theft Of Rs 4 Cr Gold To Get Insurance Coverage

The owner of a jewellery store in Nagarathpet registered a criticism at the Cottonpet police station on July 12. He told the police that his nephew, who was carrying crystal elements rhinestones the jewelry house, was robbed by a motorbike duo. Everything was recorded after the gold was dropped at the shop. The nephew carrying the bag out of the shop and leaving was recorded.

They Stole 20 Tola Gold From The Jewelry Retailer

The nephews were advised to call Raju when they reached the deliberate spot on the flyover. They hid the bag with the gold in the boot space of their scooter earlier than he arrived. After that, he called an unknown individual and gave the police the clue. The robbery might be staged on the Sirsi Circle flyover where there are not any cameras. The complete scene of packing the jewellery on the shop in the evening was captured by the cameras.

Many shoppers chose to take advantage of historic high gold prices so as to improve the amount of recycling. According to the World Gold Council’s Gold Demand Trends report, India’s gold demand fell in the second quarter of 2023. The total gold consumption for the quarter was down compared to the identical period within the earlier yr.

After Raids On Haryana Congress, Luxurious Cars, Jewellery, And Cash Had Been Seized

The Cottonpet police solved the case of the theft. The police discovered that he was going to sell the gold and declare the insurance. The call made on the day of the grievance was discovered by police. They turned suspicious when the technical method did not work and tracked the cellphone calls of the man and his nephew.