Column: After three years of exports China is now short of lead
The global lead market has bifurcated since the start of June, with Shanghai prices significantly outperforming that of the LME.
Emirati extravagance has gone one step further: Municipal officials in Dubai are encouraging weight-loss by giving away one gram of gold per kilogram of weight lost, the Huffington Post reports.
The immensely rich city-state has launched a 30-day challenge with no limits to how much gold it’s prepared to give away, so long as participants lose at least two kilograms (4.4 pounds).
At current prices, this will run the city about $45 per kilogram lost.
The United Arab Emirates ranks 7th in world-wide obesity rates, according to the CIA World Factbook.
In 2009 the World Health Organization reported that almost 40% of Emirati women and more than 25% of men were classified as obese.
This is not the first time the UAE makes headlines for its lavish gold consumption. Those less inclined to dieting can also pick up 1-ounce gold bars from ‘Gold to Go’ vending machines at Dubai’s Burj Khalifa.
Image from Youtube
