An Eyewitness News investigation has revealed a link between the price of precious metals on Wall Street and criminals targeting cars on the streets of Kern County. The Bakersfield Police Department and the Kern Co. Sheriff's Department are reporting sharp increases in the number of catalytic converter thefts.

Catalytic converters filter the exhaust that comes out of your car. They also contain precious metals like Gold, Platinum and Rhodium which are trading near record highs. As of May 6, Rhodium was selling for more than $9,000 per ounce. Thieves can sell catalytic converters to scrap metal dealers for as much as $200 each.

James Clemmons, owner of Bob's Muffler shop in east Bakersfield, says even inexperienced thieves can remove a catalytic converter in only a few minutes.

"It's becoming a huge problem," said Clemmons, who estimates his shop replaces about 10 stolen converters per week, compared to none a year ago.

Although any car can be ripped off, Toyota trucks and SUVs appear to be the prime targets. Shannon Scott of Bakersfield found that out when she got in her Toyota 4x4 to go to work one day. When she turned the key she heard a "loud rumble." Scott's catalytic converter had been stolen.

Because stealing catalytic converters is so easy, catching the people who do it is almost impossible. They often strike at night and the victims don't realize what happened until hours later.

"Unless we know where these things are going. We don't really have any leads," said Sgt. Greg Terry from the Bakersfield Police Department.

Experts recommend parking your car in your garage to keep it away from criminals. If you don't have a garage or can't park in it, you can also try getting an alarm with a motion sensor that will detect someone trying to crawl under your car.