This Year’s Olympic Gold Medals Contain Only 1.2% Actual Gold

From Tyler Durden: Perhaps they should change the name to “gold-plated medals,” because this year’s Olympic gold medals handed out to winning athletes contain only a tiny percentage of gold.

The 2016 Rio Summer Olympic Games are already 51% over budget, with the total cost expected to be in the $4.6 billion range. With that in mind, Visual Capitalist’s Jeff Desjardins notes that the organizers have tried their best to cut costs.

One area of compromise?

The Olympic gold medals, which weigh 500g (1.1 lbs) and are 85mm (3.3 in) in diameter, are gold in name only.

OLYMPIC GOLD MEDALS HAVE ALMOST ZERO GOLD IN THEM

Today’s infographic comes from JM Bullion and it shows the real amount of metal in gold, silver, and bronze medals, along with the hypothetical cost of awarding solid gold to winning athletes.

Courtesy of: Visual Capitalist and JMBullion

If Olympic athletes want some real gold exposure, they can always buy the SPDR Gold Trust ETF (NYSE:GLD). The GLD traded at $127.56 in the premarket on Monday, down $0.41 (-0.32%), and has risen about 26% year-to-date.

GLD-2016-08-22

This article is brought to you courtesy of ZeroHedge.

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