Goldinvestment constant in world economic transformations
Journal: Scientia fructuosa (Vol.141, No. 1)Publication Date: 2022-02-24
Authors : Anatolii MAZARAKI Tetiana MELNYK Yuliia DEMKIV;
Page : 4-25
Keywords : world dynamics of gold price; gold market; investment attractiveness; global demand for gold; return on assets; gold and foreign exchange reserves;
Abstract
Introduction. Gold reserves are created and used to meet the emergency needs of the state due to military, political and economic emergencies. But, despite the importance of this part of gold and foreign exchange reserves, its volumes in some countries due to various reasons differ significantly. Problem. At this stage, characterized by permanent crisis conditions of the world economy, the issue of investment attractiveness and profitability of the gold market is relevant, which requires in-depth research into changing the dynamic economic characteristics of gold and its current positioning as a global asset. The aim of the article is to study the current role of gold in the world economy as an investment constant in the context of global economic transformations. Methods. The main research methods are methods of statistical analysis, synthesis, grouping and graphical representation of results. Results. Approaches to the definition of the concept of "gold-investment constant" are considered. The global analysis of gold in retro and perspective format according to the reporting data of international organizations is carried out. Modern forms of interaction with other world assets are analyzed. The dynamics of growth of profitability and investment attractiveness of gold is analyzed. The tendencies of quantitative changes of gold reserves in the gold and foreign exchange reserves of the states and their qualitative structure are studied. The global tendencies of increasing gold reserves in the gold and foreign exchange reserves of the states have been established. Conclusions. Despite the fact that gold has officially lost its monetary value, this metal in the gold and foreign exchange reserves of states still serves as a strategic financial asset, the use of which is associated with extraordinary circumstances of political, economic and military nature. We should expect the trend of strengthening gold prices to continue in the future and consider it as an investment constant in global economic transformations.
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