Research and development in the field of optical clocks based on ultracold atoms and ions have enabled the relative uncertainty in frequency to be reduced down to a few parts in 1018. The use of novel, precise frequency comparison methods opens up new possibilities for basic research (sensitive tests of general relativity, a search for a drift of fundamental constants and a search for ‘dark matter’) as well as for state-of-the-art navigation and gravimetry. We discuss the key methods that are used in creating precision clocks (including transportable clocks) based on ultracold atoms and ions and the feasibility of using them in resolving current relativistic gravimetry issues.