Shortage of Gold for Dubai’s “Your Weight In Gold” Campaign

October 30th, 2014 by

Dubai's "Your Child's Weight In Gold" program was a wild success this year.

Dubai’s “Your Child’s Weight In Gold” program was a wild success this year.

According to various sources, the “Your Weight In Gold” program offered by the municipal government of Dubai (United Arab Emirates) has hit a temporary snag: there were so many successful participants this year, the distribution of prizes–in the form of gold coins–will be delayed until December.

The government incentive, known in its second year as “Your Child’s Weight In Gold,” pays out 1 gram of gold for each kilogram of weight lost by participants in excess of 2 kilos. Like last year, the municipal government the added caveat that families who participated together received two grams of gold in exchange for each kilo of weight loss over 2 kg. The time span for the contest lasted from July 15th through September 15th.

The municipality was overwhelmed this year, however, by the number of winning participants in the program, which aims to reduce childhood obesity. Contest winners will have to wait until December to receive their gold prizes due to a shortage of gold coins. It is estimated that some 40 kilograms of gold will be paid out in total to 7,350 participants, many of them children under the age of 13. This represents a 100% increase over the number of participants in the event’s inaugural year. With the dramatic spike in the contest’s weight-loss activity, Dubai simply did not allocate enough gold to the production of the prize coins, which will be of a remarkable .9999 fineness, or 99.99% pure gold. This year’s “biggest loser” shed close to 30 kg after last year’s best mark was just over 26 kilos.

Image courtesy of ArabBusiness.com

Image courtesy of ArabBusiness.com

With the continued success of this clever “gain gold by losing weight” contest, Dubai may soon have the fittest population in the world–and one of the most financially secure! Be sure to plan for the future of your own wealth with the variety of highly pure gold products available at Gainesville Coins!

 

by Everett Millman