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Rod Seiad

Gold Strike In The Middle East

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.By Kitco News

Wednesday July 9, 2014 11:23 AM


(Kitco News) - The Dubai municipal government is again encouraging a healthy lifestyle by giving away gold, and now they are targeting families and children.

Earlier this week the government embarked on its second weight-loss challenge with “Your Child In Gold.” Over the next two months the government will reward people with gold for the weight they lose. The rewards are double for families with children who lose weight.

Last year the Dubai government launched its initial gold weight-loss program, making headlines across the global. According to media reports, the government gave away almost 17 kilograms (546 ounces) of gold as citizens shed 13,275 kg.

According to the rules, participants have to lose a minimum of two kg to earn one gram of gold for each kilo of weight lost; however, for families with children who lose the weight, they receive two grams of gold for each kilo.

"This year, we have given priority for families as they will get double rewards than individual participants when they participate with their family members," Dubai Municipality Director-General Hussain Nasser Lootah said at a press conference on Tuesday. “We need to protect our generation from the negative effects of technology by encouraging them to have a healthy lifestyle and educating the parents about their role in bringing up a healthy generation.”

Registration for the weight-loss challenge will start on July 15 with the final weigh-in wrapping up on Sept. 15.

By Neils Christensen of Kitco News; nchristensen@kitco.com



Who says the crude oil prices don't affect the gold spot?

Why heck, even the french-fry cooking-oil affects the gold spot!

How much gold could a fat-man receive if a fat-man could lose kilograms?

Imagine the derivatives market when America joins in.




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