Catalytic converter thefts soar along with the price of precious metals

Motorists across the U.S. are increasingly being met with a roaring noise when they turn on the ignition due to surging thefts of catalytic converters, law enforcement officials say.

The devices look like a muffler and are attached to a vehicle's emissions system. They're increasingly coveted by thieves because they contain platinum, palladium or rhodium, precious metals that help convert hazardous exhaust emitted by an engine into less harmful gases.  In recent years, the values of all three metals have spiked, with rhodium valued at $14,500 an ounce in December, palladium at $2,336 an ounce and platinum fetching $1,061, according to the National Insurance Crime Bureau, a nonprofit devoted to combating insurance fraud and vehicle theft.