Police said the goldsmith was waiting for a bus last night to go to Udhagamandalam in Nilgiris district, with the ornaments, weighing 1,181 grams when two persons in a car offered him a lift.
On reaching Mathampalayam, one of them threatened him at knife-point and asked him to hand over the ornaments, police said.
They asked him to get down from the car before fleeing the spot with the ornaments, Rs 900 and a mobile phone.
Based on the complaint, police are on the look out for the duo, they said.
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