GOLD RESERVE: RUSSIAN AND FOREIGN PRACTICE OF FORMATION, STORAGE AND USE
Authors:
1.
The Institute of Legislation and Comparative Law under the Government of the Russian Federation
Russian Federation
Russian Federation
Type:
Article
Pages:
from 65
to 70
Status:
Published
Received:
07.04.2017
Accepted:
14.04.2017
Published:
14.04.2017
Subject area:
UDK 34 Право. Юридические науки
BBK 67 Право. Юридические науки
BBK 67 Право. Юридические науки
Language:
Russian, English
Keywords:
gold reserve, gold, precious metal, international reserves.
Abstract (English):
The role of gold as a monetary metal in the development of any state is undoubtedly significant. Due to its natural characteristics the sphere of use of gold is extensive. Available at the disposal of mankind gold finds its application in jewelry, industry, medicine, as well as in the formation of the national gold reserves. The gold reserve of the state is a part of the international reserves, which is under the authority of the authorized state body and is represented by physical gold – ingots and coins (monetary gold). The gold reserve forms for strictly defined purposes stipulated by the corresponding regulation of any state. As a rule the purpose of their formation and use is to meet the urgent needs of the state, conditioned by extraordinary circumstances of a military, political and economic nature. In addition, significant amount of gold reserves indicate the reliability and solvency of the state. At the same time despite the significance of this part of the international reserves its amount in various states essentially differs. Some public orders perform a well-targeted disposal of the gold reserve. Thus, the trends in terms of the order of formation, storage, and use of the gold reserve, seen in a particular state, are different. We propose to consider the current world trends in this field in this article.
The role of gold as a monetary metal in the development of any state is undoubtedly significant. Due to its natural characteristics the sphere of use of gold is extensive. Available at the disposal of mankind gold finds its application in jewelry, industry, medicine, as well as in the formation of the national gold reserves. The gold reserve of the state is a part of the international reserves, which is under the authority of the authorized state body and is represented by physical gold – ingots and coins (monetary gold). The gold reserve forms for strictly defined purposes stipulated by the corresponding regulation of any state. As a rule the purpose of their formation and use is to meet the urgent needs of the state, conditioned by extraordinary circumstances of a military, political and economic nature. In addition, significant amount of gold reserves indicate the reliability and solvency of the state. At the same time despite the significance of this part of the international reserves its amount in various states essentially differs. Some public orders perform a well-targeted disposal of the gold reserve. Thus, the trends in terms of the order of formation, storage, and use of the gold reserve, seen in a particular state, are different. We propose to consider the current world trends in this field in this article.
Keywords:
gold reserve, gold, precious metal, international reserves.
gold reserve, gold, precious metal, international reserves.
1. Kucherov I. I. Zakonnye platezhnye sredstva: teoretiko-pravovoe issledovanie: monografiya. M., 2016.
