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ReSultS in life ChOiCe OR luCk? Kevin Abdulrahman Kevin Abdulrahman is an in-demand leadership development and performance acceleration speaker and trainer
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Traders estimate sales of gold have decreased by 30-50 per cent M Najmuz Zafar Muscat
This Eid and Christmas, gold sales look bleak with the rates touching an all-time high of RO14.53 per gram (24 carat) on Tuesday. The rapidly climbing price of gold has put sales down by about 50 per cent, say industry insiders. They also believe the trend will continue and gold prices could well go beyond RO20 per gram by March next year. Loui Terrance, regional manager, Atlas Jewellery, said that there was a huge difference between the last quarter of 2008 and that of 2009 in terms of sales and gold rates. “Currently we have seen a drop in sales of 50 per cent and above. Visit any store and you will see the market mood. There used to be around 60-70 customers hovering around every store on any given day, but today there are hardly 15 to 20 customers,” he said, adding that the gold rate is not likely to come down but it should remain steady so that there is some positive response in the market. With the dollar weakening, gold prices are increasing, meaning sales are likely to come down further, said Iqbal Jaffar of Al Hasina Jewellers. “ At the current rate, people are selling rather than buying, which has led to a 50 per cent drop in sales.” Said Jose K F, regional manager, Joy Alukkas, “Compared to this time last year, sales are down by 30 per cent. We plan to focus on light weight gold and
diamond jewellery and keep the chunky gold items under wraps. People are thinking that this is the highest gold will climb, so they are holding back. But we know that it will touch RO20 by the end of the financial year in March 2010.” He added that with Eid coming, there might be some upturn in sales and to attract customers for Christmas, they are already planning promotions. With gold crossing all previous price barriers, people are increasingly selling gold. According to Rajesh Govindan, country manager, Damas Jewellery, if this trend continues, there may be a drop of 30 per cent in sales. “Business was down in the
sleep just as much as you do, and a few years i have had so many people tell me that they want back, you would have never seen me get up any achieve great things in life. the only problem is earlier than 7am. But my dream is to get to the that the tasks they have to do to accomplish getting there are things they dislike doing. Olympics and i will do whatever i need to do to i usually say one of two things: get there. When i hear the alarm at 4:50am, i 1) tough. if you really want something, then hear the sound of me getting one day closer to you will do whatever needs to be done to get living my dream. i see myself in the Beijing there. Olympic stadium. that’s how i get out of bed 2) Reassess what you want. the chances are without thinking twice about it.” it’s not something you really, really, really want. Winners love to do what you do and dislike the tasks you dislike too. But if there is a goal to Because if it was, you would not put so much achieve within a time frame, winners will do weight on the task, but more on the end reward. i will suggest the same for you. take your whatever it takes to get there. pick from the above two choices, but before you Winners practice and develop a much higher do, let me share something with you. association of pleasure to achieving their goals Winners dislike the very tasks that you do compared to the pain of doing the tasks. they too. they simply have more pleasure associhave learned to pick things that ignite them so ated with their end reward than the pain of that they can go through the things they dislike doing the tasks. they see along the way. START LIKING THE themselves living their dreams Winners know that every and reaching their goals, so taSkS yOu diSlike time they don’t feel like doing what must be done, they everything else in between is remind themselves of the reasons as to why simply a process that they understand must be they are doing it. done. they don’t put a negative emotional weight on what needs to be done. if you cannot find strong enough reasons for i remember talking with a friend who was what you are doing and it will not ultimately training for the Olympics. He would get up at give you the pleasure on the inside, then do 5am and go running in the cold weather as part something about it. of his preparation to ensure he was extremely Find something that will ignite you to do the fit for the big day. i asked him how he got himsame. understand that all good things require work, self out of bed in the cold to go running with just as implementing any other winning truths i such ease. share in my books. What he said stayed with me as a great reyou are not alone, winners get the things that minder whenever i am staring down the barrel needs to be done out of the way, whether they of challenges to get to any goal i set. i hope it does the same for you too. like it or not. He said, “Kevin, you are not alone. i love my Have a winning week.
Sales plummet as gold prices soar
People are thinking that this is the highest gold will climb, so they are holding back. But we know that it will touch RO20 by the end of the financial year in March 2010
first two quarters, the third looked a little better, but the fourth is ending on a low note. With Eid and Christmas coming, things might brighten up a little, but gold prices will continue to go up, forcing people to reserve rather than splurge.” Gold demand in the Middle East dropped by 34 per cent for the third quarter of 2009, due to an exceptionally strong third quarter in 2008, the World Gold Council (WGC) said. The total identifiable gold demand for the third quarter was 800.3 tonnes in volume terms or US$24.7bn in value terms, WGC said in a statement. Identifiable demand comprises jewellery, industrial and investment demand for gold.
International chic comes to Muscat Muscat's first international fashion show features home-grown talent International designers including Nina Ricci and Vivienne Westwood featured alongside Omani designers Dibaj in Muscat's first international runway show held on Monday. Organised and produced by Nada Ali Redha al Lawati, founder of Designer General Trading based in Dubai, the show was held at The Chedi, Muscat and was, according to a press statement, “attended by Muscat’s most influential women.” The show was followed by a oneto-one meeting opportunity and a sales event. Among the international de-
signers were Muscat-based Dibaj, in addition to Mahari and Bling Chi fine jewellers, who are based in Dubai. This year marks the first time they have exhibited their collections in an international fashion show. Dibaj is the creation of sisters Aida and Afaf al Farsi. The statement said that their designs are “traditional jalabiyas with a modern twist and sophisticated evening gowns. Dibaj’s vision is to dress women in fashionable couture pieces that are elegantly and comfortably worn anywhere by anyone.” “It has been a long awaited
ambition to bring a show of this calibre to Oman which caters to a niche and untapped market of Arab women who appreciate luxury, impeccable design and tailoring,” said Nada. “I hope this will be the beginning of many more inspiring fashion events in Muscat, not only to showcase emerging talent from the region, but also internationally renowned labels to add a high degree of credibility and quality.” The invitation-only event titled Fashion Mischief showcased clothes ranging from kaftans and abayas with a modern twist to ready-towear pieces and cocktail dresses.
Muscat's first international fashion show features home-grown talent 04 MuSCat daily WEDNESDAY, NOVEMBER 25, 2009 START LIKING THE taSkS yOu...