According to the police, bullion trader Avinash Agarwal was coming to Bareilly from Lucknow after purchasing the gold.
He was intercepted by five miscreants at around 35 kilometres from Bareilly.
He alleged that after robbing him, the miscreants fled towards Shahjahanpur.
Senior Superintendent of Police Bareilly Jogendra Kumar said the police has formed eight teams and investigations are underway in this case.
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