Imagine losing your life's savings in a matter of minutes. That's the devastating reality for one Calgary jewelry store owner, Jami Hughes, whose business, Treasure Mountain, was targeted in a brazen late-night smash-and-grab. But here's where it gets even more heartbreaking: the soaring price of gold, often seen as a safe haven for investors, has made it a prime target for thieves, leaving Hughes questioning her future in the industry.
The global surge in gold prices—up 55% in 2025 and continuing to climb in 2026, according to J.P. Morgan—has turned this precious metal into a magnet for criminal activity. For Hughes, this trend hit home on February 2nd, when thieves broke into her Crescent Heights store at 1:26 a.m., making off with an estimated $140,000 to $200,000 worth of gold jewelry. The heist, captured on security cameras, showed two individuals—one wielding bolt cutters to smash the reinforced glass door and the other carrying a bag, heading straight for the display cases.
And this is the part most people miss: Hughes believes the thieves were professionals, likely having scoped out the store beforehand. 'They definitely were gangster guys,' she told Global News, describing their hoodies, darkened faces, and flashy shoes. The speed and precision of the robbery suggest a well-planned operation, leaving Hughes feeling vulnerable and betrayed.
What makes this story even more tragic is Hughes’ decision to leave the gold unsecured that night. Exhausted after a long day, she closed the store without locking the jewelry in the safe—a decision she now deeply regrets. 'I don’t even know what I’m going to eat, like where my money is going to come from,' she confessed, her entire fortune tied up in the business.
Calgary police are investigating, reviewing CCTV footage and gathering witness statements, but the suspects remain at large. For Hughes, the emotional toll is overwhelming. She’s now considering liquidating her remaining inventory and closing the store permanently. 'I’m not strong enough for all this crime and thug activity,' she admitted, her voice heavy with defeat.
But here's the controversial question: As gold prices continue to skyrocket, should businesses like Treasure Mountain bear the burden of increased security, or is it society’s responsibility to address the root causes of such crimes? And what does this mean for small business owners who are already struggling in an uncertain economy?
This isn’t an isolated incident. Across the globe, gold-related crimes are on the rise, from a $20 million heist at Toronto Pearson Airport to individuals stumbling upon buried treasures in their backyards. As investors flock to gold as a safe haven, the darker side of this trend becomes increasingly apparent.
So, what do you think? Is the surge in gold prices worth the risk for businesses and individuals? Share your thoughts in the comments—let’s spark a conversation about the cost of security in an era of economic uncertainty.
