ROME, Dec 5 : For an Olympic athlete, the gleam of a medal is priceless, a reward for years of dedication and sacrifice. But with the recent surge in gold and other precious metal prices, these coveted symbols of success now also hold significantly higher monetary value than in the past.

As the world gears up for the Milano Cortina Winter Games next year, the Italian state mint IPZS has begun producing medals that will now have up to twice the financial value of those won at the 2024 Paris Olympics.

"The medals are tangible rewards for intangible efforts," IPZS Chief Executive Michele Sciscioli told Reuters.

Gold medals were made of solid gold until 1912. Since then, however, as set out in the International Olympic Committee's official guidelines, they are made of silver and coated with

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