Police on Staten Island say burglaries have drastically gone up this year and it could be related to the price of gold.

Since the beginning of the year until May, crime increased 28.3 percent on Staten Island from the same time period last year. Police say there have been 272 burglaries since January.

Police say they believe one of the reasons for the surge in burglaries is the increase of the price of gold on the New York Mercantile Exchange. Officials say crooks can fetch a higher price for precious metals.

The June gold contract on the Mercantile Exchange closed Tuesday at $1,523.80 an ounce, up $8.80.

Three suspects were recently arrested who police believe are responsible for a number of the burglaries.

(Source: 1010WINS)