Business

Gold and silver price surge, making 2026 Olympics medals most expensive ever

Published

3 hours ago

6 February 2026

Gold and silver price surge, making 2026 Olympics medals most expensive ever

American Hartford President Max Baecker analyzes the hot gold and silver market on ‘Varney & Co.’

The recent surge in gold and silver prices to record highs will make the medals awarded at the 2026 Winter Olympics the most expensive in history.

The Milan Cortina 2026 Winter Olympics officially begin on Friday and the value of the gold and silver medals that will be awarded to the winners and runners-up, respectively, have risen with the price of the precious metals.

The spot price of gold has risen over 70% in the last year, trading around $4,950 per ounce on Friday. In that timeframe, silver prices have surged 143% and the metal is trading around $76 per ounce as of Friday.

While Olympic medals have a clear sentimental value to the athletes who have typically spent years training to win them, that price surge increases the underlying value of the medals.

Silver, gold and bronze medal samples from the 2026 Winter Olympics.

Samples of the silver, gold, and bronze medals of the 2026 Milano-Cortina Winter Olympics are displayed at the Italian Mint in Rome, Italy, on Dec. 5, 2025. (Guglielmo Mangiapane/Reuters)

2026 MILAN CORTINA OLYMPICS: EVERYTHING TO KNOW ABOUT THIS YEAR’S WINTER GAMES

Medals that will be awarded during the Milan Cortina Olympic Winter Games are made by the Italian State Mint and Polygraphic Institute based on set specifications using metal that was recycled from its own production waste, event organizers said in announcing the design last summer.

All medals are 80 mm in diameter with a thickness of 10 mm – although the gold, silver and bronze medals have different compositions.

TEAM USA STARS TO KNOW AS THE 2026 WINTER OLYMPICS BEGIN

Tenor Andrea Bocelli performs during the opening ceremony of the 2026 Winter Olympics in Milan, Italy. (Mike Segar/Reuters)

Gold medals awarded at the 2026 Winter Games will have just 6 grams of gold in their total weight of 506 grams, with the remainder composed of silver. Silver medals are made solely of silver and weigh 500 grams.

At a price of $4,950 per Troy ounce, six grams of gold amounts to about $955, while the 500 grams of silver are worth about $1,221 given a price of $76 an ounce.

Bronze medals are made of copper and weigh 420 grams (about 0.93 lbs). At a current market rate of $5.89 per pound, a bronze medal is valued at roughly $5.45.

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United States flagbearer during the opening ceremony of the 2026 Winter Olympics.

Flagbearer Erin Jackson of United States in the athletes parade during the opening ceremony of the 2026 Winter Olympics in Milan, Italy. (Yara Nardi/Reuters)

Olympians occasionally choose to sell their medals, which can go for significantly higher prices at auction than the intrinsic value of the metals they’re composed of due to the novelty and scarcity of an Olympic medal.

Four-time Olympic gold medalist Greg Louganis, who is widely regarded as one of the greatest American divers of all-time, said in a social media post last year that he auctioned three of his medals – two gold medals from the 1984 and 1988 Games and a silver from the 1976 Montreal Olympics – to help finance a move to Panama. According to SwimSwam, the auction earned Louganis more than $430,000.

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Swimmer Ryan Lochte in action during the Men’s 200M Individual Medley Final at Kazan Arena in Kazan, Russia in 2015. (Thomas Lovelock /Sports Illustrated via Getty Images)

Swimmer Ryan Lochte – who won six gold medals, three silver and three bronze across four appearances at the Summer Olympics – sold three of his golds at auction last month for $385,520.

Fox News Digital’s Paulina Dedaj contributed to this report.

Business

‘Armonia’ Delivers Historic Multi-City Magic

Published

2 minutes ago

7 February 2026

NewsAdmin

Milano Cortina 2026’s Winter Olympics opening ceremony unfolded Friday as a bold, geographically ambitious spectacle titled “Armonia” (Harmony), weaving live performances across San Siro Stadium, Cortina d’Ampezzo and beyond into a narrative celebrating Italy’s dual urban-mountain soul. The nearly three-hour show blended La Scala-inspired dance, global superstars like Mariah Carey and Laura Pausini, and dual cauldron lightings, though fragmented execution, political boos and protest interruptions tempered its grandeur.

Directed by Marco Balich with a Giorgio Armani fashion homage, the ceremony innovated by distributing athlete parades across four clusters — Milan (indoor), Cortina (Alpine/sliding), Livigno (freestyle) and Predazzo (Nordic) — ensuring all 3,000+ competitors participated despite vast distances. Critics hailed the simultaneity as “intimate and enormous,” but some found it disjointed, lacking traditional cohesion.

Dual cauldrons ignite across Italy: A first for Olympics

In a historic twist, two Olympic cauldrons blazed simultaneously: Milan’s Arco della Pace and Cortina’s Piazza Dibona, symbolizing city-mountain unity. Supermodel Vittoria Ceretti, in all-white Armani, carried the torch from San Siro to ignite Milan’s flame via “magic of technology,” while Cortina’s lit remotely — a logistical marvel marred by elongated sequences.

The multi-venue parade replaced single-stadium marches with live feeds: ice skaters in Milan, snowboarders in Livigno, biathletes in Predazzo. Television editing fluidly integrated segments, creating “four ceremonies in one,” though live crowds felt the fragmentation. U.S. athletes drew massive cheers at San Siro, only for boos to erupt during Vice President JD Vance’s brief appearance — a tense moment swiftly cut away.

‘Armonia’ theme: Beauty over politics, but protests intrude

“Armonia” promised a “voyage through art and innovation,” honoring Leonardo da Vinci, Italian design and Olympic ethos. Ethereal dancers opened with La Scala nods — marble busts, flowing choreography — evoking tranquility before escalating to time-travel motifs and massive bobbleheads. Actress Matilda De Angelis narrated, tying fragmented acts into harmony’s promise.

Mariah Carey kicked off with hits, joined by Grammy/Golden Globe winner Laura Pausini and tenor Andrea Bocelli from Tuscany. Production designer Paolo Fantin and music director Andrea Farri delivered visual feasts — ice-block banners, fashion-sports uniforms — though Deadline critiqued “gimmicks over glamour” in the flame-lighting finale.

Protests disrupted: anti-Olympic banners decried housing costs, Palestinian solidarity chants pierced whistles. Organized rather than chaotic, they underscored Italy’s civic pulse amid global tensions.

Parade of Nations: Distributed drama delights, divides

Fragmenting the traditional parade minimized travel while showcasing venues. San Siro hosted urban nations; Cortina mountain squads. Graphics aided viewers, but stadium pacing dragged — “seemingly endless procession,” per IndieWire.

U.S. flagbearers received roars; host Italy closed to “Il Canto degli Italiani.” IOC President Thomas Bach’s farewell preceded LA 2028 handover.

Critics praise innovation, critique cohesion

The Guardian (4/5 stars): “Intimate and enormous… less march of nations, more curated narrative mirroring distributed sports.”

Deadline: “Three hours, three acts lacked unity beyond visual devotion… historic spectacle, per Malagò.”

IndieWire: “Weirdness in short supply, but harmony attempts shone in editing.”

Variety: “Somber tone, stringent security for 2.2B viewers; dual flames wowed.”

Global audience hit billions; Peacock/NBC streamed live.

Day 1 medals await: Shiffrin, Chen, Kim in spotlight

Saturday yields five golds: men’s downhill (Bormio, 5:30 a.m. ET), women’s skiathlon (Val di Fiemme). Nathan Chen eyes figure skating three-peat; Chloe Kim defends halfpipe; Mikaela Shiffrin chases records.

Hosts Italy (130 athletes) bank on Federica Brignone, Sofia Goggia. Russia as AIN; China fields Eileen Gu.

Production triumphs and logistical feats

Balich Wonder Studio executed Balich’s vision: da Vinci inventions, culinary nods, youth segments. Armani costumes fused elegance-sports; Cantini Parrini’s designs dazzled. San Siro’s 75,000 roared; remote venues pulsed simultaneously.

Security — drones, robots, thousands of officers — shielded dignitaries including Vance, Rubio. Sustainability shone: 99% legacy venues.

What ‘Armonia’ means for Olympics future

Milano Cortina pioneered polycentric ceremonies, influencing LA 2028, Brisbane 2032. “Harmony” — uniting disparate elements — resonated amid division, though execution split opinions.

Malagò called it “promise to the world”; Varnier hailed inclusive athlete participation. From San Siro spectacle to Cortina flames, Italy delivered innovation — if not unalloyed unity.

Business

Dow Falls Nearly 600 Points. It’s Not Just Tech.

Published

10 minutes ago

7 February 2026

NewsAdmin

Stocks Little Changed After Fed Decision

Dow Falls Nearly 600 Points. It’s Not Just Tech.

Business

Bank of Canada Gov. Macklem Warns of Misdiagnosing Economic Weakness

Published

16 minutes ago

7 February 2026

NewsAdmin

Bank of Canada Gov. Macklem Warns of Misdiagnosing Economic Weakness

WSJ ProFeb. 5, 2026 3:52 pm ET

OTTAWA—Further interest-rate cuts won’t necessarily help an economy that’s being pulled down by U.S. trade friction, advances in artificial intelligence and lower population growth, Bank of Canada Gov. Tiff Macklem said Thursday.

The Canadian economy is undergoing a profound structural shift, Macklem said. The central bank can help support the transition, but it’s ultimately the response from policymakers, business executives and households that will determine Canada’s future prosperity, Macklem said in a speech delivered in Toronto, the country’s financial-nerve center.

Business

Luxury Retailer Cosette Announces Closure After 11 Years in Business

Published

23 minutes ago

7 February 2026

NewsAdmin

Luxury Sydney retailer Cosette has announced that it will close after 11 years in business.

The announcement, which was shared by the retailer online, also shared that the company will hold an Australian Warehouse Sale to offload remaining stock.

Cosette Announces Closure

Cosette likewise took the opportunity to explain the surprising decision to close its doors for good.

“Unfortunately, the market has changed and we – rather than our mission to make luxury more affordable, every day – were sometimes the story,” the retailer said in its statement. “So, after careful consideration, we have made the decision to close our Sydney warehouse and operations in the near future.”

The retailer has been known for selling pre-owned and authenticated luxury handbags and accessories. However, as news.com.au notes in its report, Cosette was at the center of controversy in 2024 when it was accused of selling fake designer handbags.

Investigations eventually cleared Cosette as it found no evidence to support such claims.

Australian Warehouse Sale

As previously mentioned, Cosette also announced that it will be holding an Australian Warehouse Sale.

The retailer will offer up to 80% off RRP on some luxury brands, such as Saint Laurent, Gucci, Prada and Celine.

There will also be an additional 10% off sitewide, which will be applied at checkout.

“Limited quantities, limited time,” Cosette said in its announcement. “All bags are priced to clear and will not be restocked.”

Business

Bank of Mexico Pauses in Rate-Cutting Cycle

Published

29 minutes ago

7 February 2026

NewsAdmin

Bank of Mexico Pauses in Rate-Cutting Cycle

WSJ ProFeb. 5, 2026 3:39 pm ET

MEXICO CITY—The Bank of Mexico left its benchmark interest rate unchanged Thursday, pausing after 12 consecutive cuts to assess the inflationary impact of recent tax and tariff increases.

The five-member board of governors voted unanimously to leave the overnight interest-rate target at 7.0% in their first monetary policy meeting of the year. The pause was widely expected.