Nawada Superintendent of Police Parvez Akhtar said the incident occured at Anaila village in the district when the jeweller was opening his shop in the morning.
"Four persons arrived on two motorcycles, fired in the air and snatched the bag containing gold and silver which the jeweller was carrying. They escaped immediately from the spot," Akhtar said.
The villagers gave the looters a chase and managed to catch three of them and the fourth managed to escape.
Though the looted precious metals have not been recovered, the police seizedd six cartridges from the arrested men. An FIR has been lodged and raids are on to trace the looter who escaped.