Crystal's niche in costume jewellery

Following a free fall in gold and silver prices on Monday, on top of the decline registered last week, a 'gold rush' of sorts seems to be emerging in the city. According to city's jewellers, gold lovers have already started flocking the market before the 'lagan' season and 'Akshay Tritiya' which falls on May 12 to take maximum advantage of the sudden crash.

Within a week, the yellow metal prices have fallen by around Rs 3000 per 10 gram.

Sachin Gupta of a branded jewellery shop in Patna said he has received hordes of customers since Friday and is also getting inquiries about the likelihood of further fall in prices. "Friday brought good news to gold lovers in the city and they started thronging the shops. With a fresh fall in prices on Monday, I am getting phone calls from customers if buying gold now would be beneficial for them or they should wait for further fall," said Gupta and added the present situation indicated the possibility of heavy fall in prices in the days to come. "Within a month's span, gold has seen a sharp fall from Rs 33,000 per 10 gram to Rs 27,000. "

Manish Kumar of a jewellery shop at Boring Road crossing said customers should make hay while the sun shines, because no one knows what will happen in the market some days later. However, he did not fail to add that speculations are that gold may fall up to Rs 25,000 per 10 grams. According to Kumar, gold has seen such a heavy fall in prices only after year 2005.

Sanjay Kumar at one of the jewellery stores at Dak Bungalow Crossing told TOI, "Those who had already placed orders and paid in advance are disappointed with the sudden crash and thus demanding some rebate in prices. Giving them discount will mean loss to us and if we do not give them discount, we will lose our valuable customers." At Kumar's store, the demand for lightweight jewellery has gone up. "I think people will go for heavy jewellery as well, but they are waiting for further fall," he said.

So far as silver is concerned, there is only lukewarm response in the city market even though its price has fallen from Rs 60,000 a kg to about Rs 46,000.

Asked if it was time to buy gold, Bharat Mehta, president of 'Patliputra Sarrafa Sangh', said potential new investors should rather "wait and watch". They should wait for the market to stabilize. Our experience is that the market is unpredictable.

The sharp fall in bullion prices has adversely affected gold loan companies operating in the city. According to an executive of one of these companies, the flow of customers seeking gold loan has seen a sharp decline.

Former beautician from Ipoh has got the  knack of making beautiful costume jewellery

Managed by Yue Cheng Trading, the owner is 44-year-old Ivy Yong, a former beautician from Ipoh.

Yong, who came here in 2004, said she decided to learn the art of making costume jewellery as she has a passion for the craft.

"I spent five years working for a crystal jewellery shop. Five years later, I decided to branch out on my own and started a little roadside shop within the compound of Plaza Sentosa," said Yong.

Due to the crystal jewellery's exquisite designs, Yong's business grew and she soon moved into one of the shop units in Plaza Sentosa.

"Does Yong believe in the power of crystals and Tibetan dzi beads?"

Yong can only answer in the affirmative judging by the encouraging sales.

"One must have a positive mindset after wearing the gemstones. People from as far as Singapore and Batam, Indonesia, have come to me seeking good fortune, love and a smooth-sailing career.

"Not to mention the locals especially Malays and Indians.

"I can design a piece of jewellery for them but they have to cultivate a positive mindset so that they can emit good energy, which in turn attract positive things into their lives," she said.

Yong's eldest daughter Kathy Choh, 25, who is a hairstylist by profession, also works in one of the outlets in Plaza Sentosa.

"I love wearing jewellery but I don't share my mother's passion for making jewellery," said Choh, who is the eldest among four siblings.

Yong said her shop offers a wide range of bracelets, pendants and anklets with stones of different qualities and prices.

As for her jewellery creation, Yong said she will browse through fashion magazines for inspiration.

"When I watch Taiwanese TV serials, I would look at the jewellery that the actresses are wearing," said Yong.