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Gold takes silver in price performance Olympics

Gold takes silver in price performance Olympics

Category: Investments

Updated: 31/10/2008
First Published: 31/07/2008

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
With just 8 days to go, athletes at this summers' Olympiad in Beijing will be aiming for gold but investors could be better off with silver, according to research by Skipton Building Society.

Since the Seoul Olympics in 1988, the price of silver has outperformed gold by almost half (47%).

Since the start of the modern Olympic movement in 1894, athletes have competed for the coveted gold, silver and bronze medals. The Olympic motto, 'citius, altius, fortius' ('faster, higher, stronger'), has meant the target has always been gold. However, investors may want to think differently.

Research, by Skipton Building Society, shows that the value of the gold in the medals presented at the Seoul Olympics is now worth £56,673 an increase of 87% over the 20 years that have passed. However, the price of silver has seen the value of the medals rise by 128%.

At the 1988 Seoul summer games, a total of 1,040 gold and silver medals were awarded to competing athletes and a further 110 to those in demonstration sports. These medals contained a total of 3.48kg of gold and 73.8 kg of silver (see editors' notes) respectively. In the 20 years that have passed, the price per ounce of gold has risen from £247.85 to £462.65. Over the same period, an ounce of silver has more than doubled from £3.83 to £8.75.

Commodity Prices - Gold & Silver Fixings London Prices



















Source: LMBA

*Closing price 16/09/1988. Opening ceremony Seoul Olympics 17/09/1988

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