Сучасні тенденції ціноутворення золота в умовах пандемії COVID-19

Abstract

Проаналізовано динаміку дохідності золота на світовому ринку за період 2010–2020 рр. Також розглянуто обсяги попиту на дорогоцінний метал за різними секторами ринку за ІІ квартал 2019–2020 рр. та визначено чинники впливу на ціноутворення золота. Виокремлено переваги золота для інвесторів на противагу нестабільним валютам та цінним паперам під час кризи внаслідок епідемії COVID-19. Проаналізовані обсяги золотовалютних резервів України з кінця 2019 р. по вересень 2020 р. Зроблено висновки щодо основних тенденцій ціноутворення золота в умовах пандемії.

This article analyzes the dynamics of gold yield for the period 2010 – 2020 in the world market in general and in Ukraine in particular. The problems of economic consequences of the pandemic impact (COVID-19) on certain aspects of the financial and monetary system of Ukraine and the leading countries of the world are studied in detail. The role of gold as a financial asset in retrospect and at the present stage of development of the world economy is studied. The article highlights the main advantages of gold for investors in contrast to volatile currencies and securities and in contrast to other precious metals, in particular (silver, platinum, palladium) during the crisis due to the COVID-19 epidemic. The problems of economic consequences of the epidemic’s impact on certain aspects of the financial and monetary system of both Ukraine and other leading countries of the world are considered in detail. This article also examines the state of the modern gold market in order to identify its development trends in the global epidemic and the ability to predict the price of gold in the short term for 2020–2021. The volumes of Ukraine’s gold and foreign exchange reserves are analyzed from the end of 2019 to September 2020. In turn, the analysis of Ukraine’s gold and foreign exchange reserves allowed to identify trends in their dynamics and factors that characterize their changes over the past decade and since the COVID-19 pandemic. Conclusions are made on the main trends in gold pricing in the world market of yellow metal in the economically difficult period of the pandemic. Conclusions were also made on the main economic factors that will affect the gold market in the future, in particular: monetary policy of leading countries, precious metal production, inflation, demand from the world’s largest country (China) and various other world investors, price of energy resources, other economic and sociopolitical factors. The article also states that it is possible to predict a further rapid rise in the price of gold, given that the share of gold in the investment portfolios of most participants in the precious metals market is increasing.