Problems of development of the precious metals market in Russia and their solutions

As everybody knows, precious metals possess unique properties, which allows precious metals not only to support their interest from investors, but also to play a significant role in the economy of various countries. The precious metals market is one of the most interesting objects for investment and professional speculation. The efficiency of investment is determined by the investment of funds, which provides minimal risk and gives the required return. The Russian Federation is one of the world's largest producers of platinum and gold, therefore the strategic importance of the precious metals market is determined by stable tax receipts from this sector of the economy to the budget revenues, as well as the replenishment of the gold and foreign exchange reserves of the Russian Federation - the Gold Reserve and the State Fund for Precious Metals and Gems. However, the development of the precious metals market in Russia is accompanied by a number of problems, including the imperfection of the regulatory framework, the underdevelopment of certain sectors of the precious metals market, the preservation of increased export orientation against the background of limited domestic demand and others. This article will describe in detail the problems of development and effective functioning of the precious metals market in Russia, as well as offer some solutions to the presented problems. The structure of the precious metals market in Russia will also be considered, and objects and participants in various segments of the precious metals market will be presented, as well as their functions in the modern domestic economy.