The victims had travelled from Coimbatore to supply jewellery shops in the city when they were waylaid near the railway station.
Unidentified miscreants robbed two gold traders of 2 kg of gold near the Ongole railway station in the early hours of Wednesday, according to the Deccan Chronicle.
The traders had arrived in Ongole from Coimbatore to supply gold to local jewellery shops.
The attackers allegedly intercepted the traders near the station and moved them to the outskirts of the city. They are alleged to have assaulted and threatened the victims before fleeing with the gold.
The Ongole II Town police have registered a case based on a complaint filed by the traders. An investigation into the incident has been launched.