2024 Winter Olympics medals shatter value records as gold and silver prices soar
The medals for the 2024 Winter Olympics in Italy will be the most valuable in history. Rising gold and silver prices have pushed their material worth to record levels. A gold medal is now worth over $2,300—more than double its value at the last Games in Paris.
Olympic gold medals have not been made from pure gold since 1912. Today, they contain just 6 grams of gold, plated over 500 grams of silver. Despite this, their value has surged due to soaring precious metal prices.
Geopolitical tensions, inflation fears, and central bank gold purchases have driven prices higher in recent years. Experts like Ole Hansen link these factors to the sharp increase in medal worth. Silver medals, now valued at nearly $1,400, are triple their price from two years ago.
Bronze medals, made mostly of copper, remain far cheaper at around $5.60 each. Yet even older medals fetch high sums at auction. A 1912 gold medal sold for $26,000 in 2015, while a 1920 bronze medal went for $875 in 2016.
With prices still climbing, the 2028 Summer Olympics in Los Angeles could see even more expensive medals.
The 2024 Winter Olympics will award the priciest medals ever due to rising metal costs. Gold and silver prices may keep climbing, lifting the value of future Olympic awards. Athletes this year will take home medals worth far more than in previous Games.
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