MARKET OF PRECIOUS METALS AS A PART EXCHANGE MARKET STATE: FUNCTIONING AND DEVELOPMENT IN UKRAINE

The subject of the work - a set of methods for the formation and development of precious metals market as a segment of the foreign exchange market of Ukraine. Purpose - to study theoretical and methodological fundamentals of the precious metals market in Ukraine and the development of recommendations for the development of this segment of the financial services market in the long run. Method and methodology of work - used scientific and special methods, such as comparison of scientific abstraction, induction and deduction, analysis and synthesis, etc. Results - study the main trends in gold and foreign exchange reserves of Ukraine for the period from 1993 to 2015., Analyzed the dynamics of the gold price and the volume of monetary gold central banks of some countries, a systematic approach to understanding the essence of the precious metals market and provide recommendations for the development of this segment of the financial services in the long run in Ukraine. Application of results - the proposed methods of formation and development of precious metals market as a segment of the foreign exchange market can be used to form a monetary strategy of the National Bank of Ukraine. Conclusions - the effectiveness of the National Bank of Ukraine at the present stage of development of the foreign exchange market in general and the precious metals market in particular remains fairly low. The reason for this situation is the lack of clearly defined organizational, methodological and functional approaches to the management of foreign exchange reserves of the state.