A dramatic incident has unfolded in Calgary, where a jewelry store owner has suffered a significant financial blow due to a late-night break-in that resulted in the theft of a substantial amount of gold. The rising value of gold makes it an enticing target for criminals, prompting one local business owner to contemplate leaving the jewelry trade altogether after this unsettling event.
Jami Hughes, the proprietor of Treasure Mountain, located in Crescent Heights, expressed her distress to Global News, stating, "I’m at a loss about how I will manage my expenses or where my next meal will come from. I invested my entire fortune into this jewelry business."
The robbery occurred on February 2, at approximately 1:26 a.m., when intruders broke into the store and made off with about a kilogram of gold rings, necklaces, and other jewelry items. Security footage captured the entire incident, showing one thief using large bolt cutters to shatter the glass of the front door, while an accomplice rushed in carrying a gym bag, heading straight for one of the store’s prominent display cases.
Hughes recounted the moment her partner received the alarming call and rushed to the store, only to find the main entrance entirely smashed, despite being protected by a strong 3M film security door. She added, "They specifically targeted our back showcase and stole all of the gold rings, several pendant necklaces, a collection of brooches, including Victorian pieces, and other pendants."
The aftermath of the break-in left Hughes feeling that the thieves were well-prepared and possibly familiar with the store's layout prior to the heist. "These individuals appeared to be seasoned criminals," she remarked, describing them as wearing hoodies that obscured their faces and flashy footwear.
The estimated value of the stolen jewelry is between $140,000 and $200,000, a considerable loss for any small business. Typically, Hughes secures her gold in a locked safe overnight; however, fatigue led her to leave the gold unsecured on the night of the burglary.
In response to inquiries about the incident, the Calgary Police Service confirmed that their investigation is still underway. In a statement, they noted, "Our officers arrived shortly after the breach but were unable to apprehend the suspects, who had already fled the scene. We are currently reviewing CCTV footage and gathering witness statements to assist in identifying those responsible."
Still reeling from the traumatic event, Hughes is now contemplating selling off the remaining jewelry and potentially closing her store for good. "I’ve put what’s left from the robbery into the safe for now. We have to decide our next steps from here, but I don’t feel secure anymore," she lamented. "I feel like I’m in a vulnerable position, trying to figure out how to support myself moving forward, and I might have to liquidate everything because I can’t cope with the ongoing crime and violence."
Adding to the complexity of the situation is the recent surge in gold prices, which soared by 55% in 2025, reaching unprecedented heights. J.P. Morgan projects that this upward trend will continue into 2026. Currently, the price of gold has risen by around 16% in 2026, with the spot price hitting approximately $4,932 U.S. per ounce on a recent Wednesday.
Investors often view gold as a secure investment during periods of economic instability, which may explain the increased criminal activity surrounding the precious metal.
This incident raises significant questions about safety and security in retail environments, particularly for small business owners reliant on valuable inventory. How should they navigate these risks? What measures can be taken to enhance security? Join the conversation in the comments below—do you think more can be done to protect businesses like Hughes' from such brazen crimes?
