As the United States has racked up 3 gold medals, and counting, behind China currently with 9, how much is the gold in a gold medal worth in the futures market?
The medals in the 2008 Beijing Olympics are unique in that they incorporate an inlaid ring of jade, signifying honor and virtue in Chinese culture http://www.nbcolympics.com/medals/funfacts/index.html . The gold medal is actually pure silver with about 6 grams of gold plating.
- A trading unit of gold in the futures market is 100 troy ounces www.nymex.com/GC_spec.aspx
- One troy ounce is about the equivalent of 31.1 grams