Olympic athletes often make competing in the games their number one priority. There have been athletes who injured themselves in the Olympic games, but continued competing. It takes years of discipline and training just to participate in the games. Those who win are the best in the world at what they do. They made real sacrifices and deserve real gold.
It would be a little expensive, but it would be one way to give back to the Atheletes who have sacrificed so much to be there. They work so hard and are not allowed to make money in sports, so they have very little way of making money until they retire from the Olympics.
Olympic medals are not currently made from pure gold, nor should that be the case. It would be very expensive to make. This would also raise the risk of the athletes being subject to theft. Earning the gold is the accomplishment, not that its content be made purely from the metal.
I think that the current metal composition of Olympic medals is appropriate. While predominately made of sterling silver, each Olympic gold medal is plated with a minimum of six grams of pure gold. With so many events and so many medals awarded, to make the entire medal pure, solid gold seems like a somewhat wasteful and unnecessary expenditure.