The men broke into the couple’s Mount Merrion Avenue home in south Belfast last night around 10.20 pm.
Police say one of the gang pushed the elderly man into the living room as another burglar went upstairs to search the bedrooms.
They stole cash, a gold watch, an engagement ring and an eternity ring.
The elderly man was not injured but was left very badly shaken by the burglary.
The gang left the house in a black Ford Focus car, registration EIG 8890.
It was later found in St John’s Park in the Rosetta area, less than a mile from the scene of the crime.
Detectives at Musgrave PSNI station are appealing for anyone with information about the burglary to contact them on the 101 non-emergency number.