About 2 kg gold was allegedly looted at gunpoint from a jewelley shop at Kumutisahi village in the Balipada area of Ganjam district on Saturday evening.
According to reports, out of six bike-borne miscreants four robbers entered into the shop and attacked the owner, identified as D Gopal Acharya before fleeing with the ornaments.
The miscreants also fired in the open near the shop to create a panic among the people present there, the reports added.
Meanwhile, police launched investigation into the crime and carred out a manhunt to nab the culprits.