Gold prices are higher on Monday morning. This week, key U.S. data releases include the July Producer Price Index on Tuesday and the Consumer Price Index for July on Wednesday. Additionally, the retail sales report on Thursday will be closely monitored by the market. The price of gold is trading at $2,449.94, up $18.62. The price of silver is trading at $27.90, up 44 cents. Olympic gold medals at the Paris games have reached unprecedented value due to the surge in metal prices, with each medal’s raw materials valued at approximately $900 according to Bloomberg. This increase is attributed to the soaring price of gold, driven by factors such as central-bank purchases, Chinese retail interest, and expectations of easing U.S. monetary policy. Silver prices, which constitute at least 92.5% of the medals’ weight, have also risen significantly. Despite inflation adjustments, the current value of these medals is the highest ever recorded. However, athletes typically do not sell their medals, which this year include a piece of the Eiffel Tower. Instead, they benefit more from rewards provided by their countries, such as cash prizes and other incentives. When sold, Olympic medals can fetch prices far exceeding their metal value, as demonstrated by the $1.5 million auction price of one of Jesse Owens’ 1936 gold medals.
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