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Thursday, July 18, 2013

Dubai Gold Diet - Your Weight in Gold Campaign

CNBC's "matronly" Sue Herera just reported "50% of the population in Dubai is now considered overweight to obese and that is a HUGE, HUGE change." 

According to the International Business Times:

  • Because of the increasing obesity rates in the UAE, many health campaigns have been launched in the UAE, but Dubai’s campaign could be the most successful for individuals looking to lose weight. 
  • According to Agence France-Presse, the “Your Weight in Gold” campaign is paying one gram of gold for every kilogram, 2.2 pounds, of weight lost. 
A gram of gold is worth about $45 at current prices.
  •  In order to get paid to lose weight, individuals must lose at least two kilograms, 4.4 pounds, before Aug. 16
  • The campaign does run during Ramadan, with its customary fasting from dawn until sunset, but does not mean the program will result in a fortune lost for the municipality. As AFP notes, while individuals cannot eat or drink any liquids until sunset, many Muslims tend to indulge in large feasts after the required fasting.
Local media Wednesday quotes Dubai official Hussain Lootah as saying there is no limit on the payout for the golden losers, who must sign up and weigh in Friday. 

The minimum drop is two kilograms, or 4.4 pounds, to cash in.

Today Gold is selling for $1,228 per oz.  

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