How much does an Olympic medal “cost”? The evolution of precious metals, also reflected in the 2026 Olympic Games

The Milan-Cortina 2026 Winter Olympic Games are in full swing, and in addition to the sports performances, another record is being recorded: the material value of the Olympic medals. The reason is not an increase in the amount of gold in their composition, which has remained largely unchanged over the decades, but the spectacular evolution of the price of precious metals.

The gold medal actually contains only 6 grams of pure gold. Archive photo

The material value of the 2026 gold medal reflects both its composition and current market levels. An Olympic gold medal weighs about 500 grams and contains about 6 grams of pure gold, the rest being mainly silver. At quotes of around $5,000 per troy ounce of gold and $76 per troy ounce of silver, the intrinsic value of a single gold medal is estimated at $2,100-2,200.

The silver medal, which also weighs approximately 500 grams and is made entirely of silver, has an intrinsic value of approximately $1,200-$1,300. Thus, the medals of 2026 become the most valuable in the history of the modern Olympic Games.

“The amount of gold in an Olympic medal has changed very little over the last century, which is remarkable. But what has changed substantially is the price of gold. This year's Olympic medals are a clear example of how the market value of physical gold is reflected in real, measurable value.”said Victor Dima, Treasury Manager at Tavex Romania.

From Paris 2024, to Milan 2026 and the contrast with 1924

Just two years ago, during the Paris 2024 Summer Olympics, the material value of a gold medal was estimated at around $900-$1,000. Today, that value is more than double, reflecting the strong rise in gold and silver prices.

The first Winter Olympics were held in 1924 in Chamonix, France. At that time, the gold medal weighed about 55 grams and, similar to the situation today, contained about 6 grams of gold. At the official gold price of the time, the gold content of the 1924 medal was worth about $5. Today, the same 6 grams of gold is worth nearly $1,000. The difference is not in the amount of gold, but in its price.

For athletes, an Olympic medal is priceless, representing the result of years of discipline, sacrifice and focus. Beyond the symbolism, however, there is also an economic reality: the price of precious metals directly influences the tangible value of even the world's most prestigious awards.

In many ways, the history of Olympic medals is also the history of gold, an asset that retains its value over time and reaches new highs in times of economic uncertainty.

Stock market performance of current sponsors

The competition comes with a reconfiguration of global premium sponsors after the withdrawal of Japanese companies with decades-long partnerships, a change that may signal priorities and strategy, according to an analysis by XTB.

The reduction in the number of premium global partners and the withdrawal of some traditional names indicates a strategic repositioning within the Olympic sponsorship portfolio. Next, XTB analysts presented the stock market evolution of the most important sponsors of Milano Cortina 2026.

1. Samsung Electronics

Samsung Electronics is one of the top performing companies among Olympic sponsors, with an annual appreciation of 158%. This outstanding performance is supported by renewed interest in the memory semiconductor market, driven by demand for chips used in artificial intelligence applications.

2. Procter & Gamble

Procter & Gamble demonstrates the characteristic strength of stocks in the consumer staples sector during periods of market volatility, posting a 16% increase in value in February 2026 alone. This performance contrasts sharply with the turbulence seen in more cyclical sectors.

3. Coca-Cola

Coca-Cola, for its part, reports a 10.6% increase in year-to-date performance, supported by a market capitalization that exceeds $330 billion. Thus, the giant consolidates its position as one of the largest global consumer goods companies. For fiscal 2025, it posted organic revenue growth of 5%, with net income of $47.9 billion, demonstrating the ability to grow the business even in times of inflation by adjusting prices and shifting to more profitable products.

4. Dream

At the opposite pole is Visa, which is down 7.2% year-to-date and down 5.9% year-to-date. This negative result primarily reflects discussions about regulations, which could limit the fees charged for credit cards. The theme became increasingly present in the US in the first quarter of 2026.

“The direct link between Olympic sponsorship and stock market performance remains difficult to isolate, as share prices are simultaneously influenced by financial results, macroeconomic context and strategic decisions. However, viewed as a positioning tool, sponsorship can strengthen reputation, support defensive brands through constant exposure and, in technology, can function as a showcase for innovation, with indirect effects on market perception and expectations”, XTB analysts point out.