Egyptians outraged after ancient pharaoh's bracelet was stolen from Cairo museum and melted down

[DFW]

8. There will be a worldwide wave of this, from priceless antiques to cheap chains and armbands.

With the price of gold less than $10 from breaking the $3700 per ounce—over $100 per gram—barrier, it’s worth the while of every two bit street thug to rip gold chains from people’s necks, gold armbands from people’s wrists, and a bracelet of massive gold like the one from the Egyptian museum probably melted down for $6000 or more. That’s probably half a year’s salary for a low-tier museum employee in Cairo.

But when ripping a simple 14k gold chain from a teenage girl’s neck will net the petty goon $250 within half an hour, you can bet it’s not going to be limited to Karachi, Napoli or São Paulo.