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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.

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.
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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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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.
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Airport screenings resume at Asian airports following Nipah virus cases in India
Thermal screenings have been reinstated at airports in Indonesia and Asia following Nipah virus cases in India’s West Bengal, prompting quarantine measures. The WHO warns the virus’s high fatality rate (40-75%) with no current cure or vaccine. Experts note that border screenings may be ineffective due to the virus’s incubation period of up to 45 days.
Increased Airport Screenings and Concerns
Passengers arriving in Bali and other Asian countries are experiencing thermal screenings at airports again, a precautionary measure to detect the Nipah virus. This virus, carried by fruit bats and other animals, has recently prompted health alerts, especially after cases were confirmed in eastern India. Awareness of such zoonotic diseases has heightened post-pandemic, emphasizing the need for vigilance. The recent detection of two cases in West Bengal has led to quarantine measures, affecting nearly 200 people to prevent further transmission.
Dangers of the Neper Virus
The Nipah virus is highly dangerous with a high mortality rate, estimated between 40% to 75%, according to the World Health Organization. It has no current cure, vaccine, or specific treatment, making management challenging. The virus was first identified in Malaysia in 1998, with sporadic outbreaks mostly contained in Bangladesh. Its ability to spread between humans, combined with a long incubation period that can reach up to 45 days, complicates efforts to control outbreaks.
Ongoing Public Health Challenges
While the Nipah virus has not shown signs of becoming more transmissible or spreading widely, it remains a significant health threat. Experts warn that traditional airport screenings may not be entirely effective due to the lengthy incubation period, underscoring the importance of ongoing vigilance and research. Public health organizations continue to monitor the situation closely, emphasizing preventive measures and the importance of awareness to curb potential outbreaks.
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Europe’s STOXX 600 rebounds in broad based gains; Stellantis plunge drags auto stocks
The pan-European STOXX 600 was up 0.9% at 617.12 points, also bouncing back from a drop earlier in the session.
Stellantis tanked 25.2%, its biggest single-day drop on record and sent the broader auto sector index down 3%.
The Franco-Italian company booked charges of around 22.2 billion euros ($26.5 billion) in the second half of last year as it scaled down electric-vehicle development plans.
Meanwhile, defence stocks were among top gainers with a 1.6% rise.
Norway’s Kongsberg jumped 15.6% after reporting a bigger-than-expected rise in operating profit for the fourth quarter. It also won a $165 million order from Germany and Sweden for remote weapon stations.
The STOXX 600 closed the week with a 1% gain, as markets navigated ups and downs driven by the corporate updates and the European Central Bank’s interest rate decision. A surprising sell-off in technology and media stocks also weighed on sentiment earlier this week. Global investors have been weighing the repercussions of newer artificial intelligence tools that are likely to intensify competition for traditional software businesses.
On the other hand, AI majors such as U.S.-based Amazon.com and Alphabet have unveiled plans to boost their spending on the technology that analysts say could benefit hardware makers.
“In the U.S., they are seeing a dislocation between software and hardware, driven by an AI theme that is boosting demand for memory, while creating challenges for software companies, and that’s the dislocation currently being priced by the market,” said Sophie Huynh, portfolio manager & strategist at BNP Paribas Asset Management, adding that much of this uncertainty was spilling over to the rest of the world.
Tech and media stocks gained 1.2% and 0.5%, respectively, on the day, but both have been the biggest laggards on the benchmark index this week. The tech sector posted its biggest weekly drop in 11 weeks.
Banks, which had rallied for much of last year, were up 1.4% on the day.
Societe Generale edged 2.2% lower after the French lender reported a sharp drop in investment banking trading revenue that underperformed rivals and overshadowed an overall forecast-beating fourth quarter.
Among individual movers, weight-loss drugmaker Novo Nordisk gained 5.3% after the U.S. Food and Drug Administration threatened action on “illegal copycat drugs”.
Norwegian telecom operator Telenor climbed 7.2% after reporting fourth-quarter earnings above analysts’ expectations.
On the economic front, German production fell more than expected in December, tempering industrial recovery hopes.
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Apple Is Reportedly Working on CarPlay Support for ChatGPT, Claude, and Gemini

Apple is reportedly working on allowing AI chatbots like ChatGPT, Claude, and Gemini in its CarPlay system.
Should this become a reality, what happens to Siri?
Apple Reportedly Works on AI Chatbot Integration
According to Bloomberg’s Mark Gurman, the support for third-party AI apps is expected to arrive in the coming months.
The support will reportedly allow CarPlay users to ask these AI apps questions hands-free. However, it should be noted that users may need to open an app in order to access their preferred chatbot.
MacRumors notes in its report that app developers will be given the opportunity to design in-car experiences that will be the ones to launch the voice-based chat mode upon opening of the app.
What Happens to Siri?
There’s no need to worry about Siri as this change is not meant to replace the AI assistant.
The support for third-party AI chatbots will have limitations. MacRumors reports that the support will not have a wake word, which makes opening the app of their chosen AI chatbot necessary in order to use the function.
As of press time, Apple has not confirmed if it is indeed working on support for third-party AI chatbots in CarPlay.
However, Apple Insider points out that the slow rollout of the new Siri may have been a contributing factor to the reported decision to provide support for such apps.
Originally published on Tech Times
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