2026 Winter Olympics in Milan-Cortina See Rising Medal Values Amidst Games Preparations
As athletes from around the globe converge on Milan and Cortina d'Ampezzo, Italy, for the 2026 Winter Olympics, the value of Olympic medals has reached unprecedented heights due to soaring precious-metal prices, according to Fortune. The games, which officially start on February 6 and run until February 22, mark the first time the Winter Olympics are officially co-hosted by multiple cities, Time reported.
The rise in precious metal prices has significantly impacted the potential financial worth of Olympic medals. Since early 2025, gold prices have nearly doubled, increasing from $2,800 to over $5,000 per ounce, an almost 80% jump over the past year, Fortune noted. Silver has also seen a dramatic increase, trading at nearly $90 per ounce, a roughly 182% increase from about $32 a year earlier.
More than 3,500 athletes are expected to participate in the games, which will be held in two primary locations, Time reported. Milan, a financial and fashion hub, will host ice sports such as figure skating and hockey, while Cortina, a resort town in the Italian Dolomites, will host skiing, snowboarding, and other mountain events.
NPR reporter Rachel Treisman offered a glimpse into the Olympic Village, describing it as "a sprawl of modular buildings and high-rise apartments, with the flags and banners of the countries in residence hanging from." Treisman was among the journalists who were allowed to explore the village the week of the opening ceremony.
The Milan-Cortina bid won in 2019, beating a joint bid from Stockholm and Åre in Sweden, according to Time. As the games approach, anticipation builds, with many following along from home, becoming temporary experts on winter sports, NPR reported.
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