Precious Metals/ Olympic Medals

I was thinking about Olympic medals and how they are gold, silver and bronze.

How precious is the metal in these three medals?

Gold is currently sells for about $1100 per ounce
Silver sells for about $16 per ounce

Platinum sells for about $1500 per ounce

Palladium sells for about $420 per ounce

Bronze isn't even a precious metal but rather an alloy of copper and tin. Copper sells for mere pennies per ounce.

This puts a different spin on the metal medals that are awarded at the olympics. Perhaps the medals should be made of Platinum, Gold and Palladium in order of their value as precious metals?