As athletes gear up for the 2026 Winter Olympics in Milan-Cortina, Italy, the financial stakes have climbed to unprecedented heights—and it’s not just because of the sponsorship deals or prize money. Soaring precious-metal prices have pushed the value of Olympic medals to historic highs.
Since early 2025, gold prices have nearly doubled, rising from $2,800 to over $5,000 per ounce—a nearly 80% jump over the past year as wary investors seek a safe haven. The recent rise is unprecedented after decades of modest growth: Since 1971, the metal has increased in value by roughly 8% annually. Meanwhile, silver’s price has jumped sharply, trading at nearly $90 per ounce today, a nearly 182% increase from about $32 a year earlier—far outpacing its historical sluggish price increases. Bronze is a relatively abundant resource and carries far less value.
