Hong Kong police have launched a manhunt for three people after a shop in Hung Hom reportedly lost 73kg of gold bars valued at an estimated US$12 million, the South China Morning Post has learned. Authorities say a nearby resident alerted police after being told the bullion had been taken and the suspects fled in a private vehicle.
What Happened
Police said they received a report at around 2:57pm from a woman in Hung Hom who told officers a nearby shop was suspected to have been “burgled.” The woman said the shop owner had informed her that someone had stolen 73kg of gold bars before leaving the scene in a private vehicle.
Law enforcement sources told the South China Morning Post that the case is being treated as a suspected deception and officers are searching for three people believed to be involved. The value of the missing gold has been estimated at about US$12 million. Hong Kong police have not released the identities of the shop or the owner while enquiries continue.
Background
Hong Kong is a major regional centre for precious metals trade and retail jewellery, with many dealers and shops operating across the city. High-value shipments and on-site holdings of bullion or jewellery create an ongoing need for stringent security and transport safeguards.
The city’s police force routinely responds to commercial burglaries and deception cases involving high-value items, and large-scale thefts typically trigger immediate criminal inquiries and co-ordination with specialist units. Investigations in such cases often focus on tracking the movement of stolen goods, reviewing surveillance footage, and examining whether deception, inside information or organised groups were involved.
Why It Matters
A reported loss of 73kg of gold at an estimated US$12 million is significant both for the affected business and for broader commercial confidence in the local bullion and jewellery market. Beyond the immediate financial hit to the shop owner, such incidents can prompt other retailers and dealers to re-evaluate security measures, insurance cover and transport protocols.
For the public, a high-profile theft raises concerns about local safety and the effectiveness of commercial security. For insurers and logistics firms, it can mean stricter requirements, higher premiums or changes in how precious cargo is moved and stored.
Authorities will be looking to establish how the theft was carried out and whether it involved deception, collusion or organised activity. Any arrests and the recovery of the gold would be central to resolving financial liabilities for the shop and to deterring similar incidents in the future.
Hong Kong police continue to investigate the report and are conducting a search for the three suspects named in the inquiry. Further details are expected as the probe progresses.
Originally reported by South China Morning Post.