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The price of gold has increased over the last week, which could give swindlers more opportunities to trick their victims.
The gold bar scam sounds like a con no one could possibly fall for, but it does happen. The scheme involves victims, usually senior citizens, sinking their life savings into gold, silver or some other precious metal to safeguard their assets, after being convinced to do so by a con artist.
If a scammer gains your trust, it can seem like a good idea to follow their advice and invest in gold, a precious metal that’s typically a sound investment in times of economic uncertainty. But once a victim entrusts the gold bars to the scammer for safekeeping — surprise — the scammer is never heard from again.
Gold bar ploys are on the rise. The FBI first warned about an increase in these scams in January 2024, but their popularity has…
