P. Korenyuk. Problems and peculiarities of the formation of the precious metals market in Ukraine.

Abstract

Money in the form of credit has pushed gold from domestic and international turnover. Therefore, for gold you can buy the necessary currencies, and for the given currencies, respectively, any product. In the case of an economic crisis, the role of gold, as extraordinary world money, is significantly increasing. Industrialized countries account for more than 83% of world-centralized reserves and 77% of the total world reserve of gold reserves. In terms of volume of gold reserves, Ukraine is on the 49th place in the world ranking. The government is making quite active attempts in the form of a well-balanced fiscal policy of a state-owned type in order to revitalize the domestic gold market. In recent years, there has been a tendency for an increase in the number of banks willing to work with bank metals, which indicates a significant potential for the development of this market and the possibility of benefiting from operations on it for both banks and clients. Today, the gold reserves exist in the form of centralized stocks in treasury and state banks, in the form of private savings of individuals and legal entities, in the form of precious metal, which used in the branches of the national economy. Specialists of approximately 1,000 tons estimate real industrial stocks. Consequently, there is a problem of direct and indirect state support for the extraction of gold in Ukraine. In today's difficult economic conditions, when the state is compelled to take international loans, it was optimum to maximize the growth of its own gold reserves by buying gold scrap from the population, developing its own gold mining with the acceleration of entry into the world market.