Gold in Ukraine: Investment or Business. Modern View

For private investors, the issue of diversification of their own portfolio is always important. The purchase of physical gold metal and (or) the purchase of gold futures can reduce the risks of the portfolio due to the volatility of the price of gold and its recognition as a global benchmark. Studies of the state and prospects of the gold market in Ukraine remain relevant, as trends in the world gold market show a steady increase in price and demand. The aim of the article is to study the current state of the world gold market, study the rating of gold and foreign exchange reserves of the leading countries, study modern mechanisms of gold trading, review the state of exchange trade in gold metal in Ukraine. General scientific research methods have been used to compare and analyze global trends in the world gold market and its main tools. The article determines that exchange trade in precious metals in Ukraine is underdeveloped and represented by the market of bank metals. Today's market does not meet global requirements and popularity. Private investors are not very active in buying gold futures. Normative provisions on gold trade provide for the movement of bank metals, gold for industrial needs, and gold scrap in Ukraine. It has been substantiated that the reasons for the lack of interest in placing gold futures in Ukraine are the lack of legislation on the private gold market, the low level of economic development of the country, the current geopolitical situation. It has been concluded that the development of the market of gold and precious metals is important, as its positive changes will add opportunities to start the movement of gold by releasing it from private savings into an investment vehicle. It has been concluded that the main content of state support for the development of the gold market in Ukraine is to create an opportunity for Ukrainians to compete with foreigners for investment in Ukrainian business. Issues of gold market development are relevant and require further research.