INNOVATIVE APPROACHES ON ASSET MANAGEMENT IN THE MARKET OF PRECIOUS METALS

Abstract

The precious metals market is one of the important factors in the effective functioning of the national economy. In Ukraine, it is responsible for the function of accumulation of precious metal in the state reserve and gives an opportunity to participate in operations on the world precious metals market; which is especially important in the context of globalization and European integration.Metals are a specific object of exchange and trade. Legislation determines that precious metals are gold, silver, platinum and platinum group metals (palladium, iridium, rhodium, osmium, ruthenium) in any form and state (raw materials, alloys, semi-manufactures, industrial products, chemical compounds, products, waste, scrap, etc.). All of these metals form a special value group. This is manifested not only in the financial, but also historical and cultural aspects. The financial value is amplified by the limited nature of these types of metals and their composition in the country's gold and foreign currency reserves, which significantly affects the competitive position on a global scale, since precious metals can be used at any time to regulate the payment imbalance, to make international payments at the state level and to protect savings at the level of economic entities and population. The purpose of this article is to increase financial literacy of the population of Ukraine; coverage of the main stages of the development of operations with precious metals in Ukraine; research of the current state of operations with precious metals and stones and perspective directions of their development.