Athletes who take to the podium at the 2008 Summer Olympics are getting a bit more bang for their buck, so to speak.
Since the Athens Games in 2004, base medal prices have skyrocketed.
A gold medal earned in the Mediterranean country was worth $155. Today, athletes who make it to the top of the podium in Beijing will see a medal worth about $393 draped around their necks, an increase of more than 150 per cent.
Ironically, China’s economic expansion in the last few years and its use of raw materials has fueled much of the increase in commodity prices. According to the World Gold Council’s (WGC’s) Gold Demand Trends report, demand for gold in China increased 15 per cent in the first quarter of 2008.
