BANK METALS

Weighted ingots of bank metals are bank metal ingots weighing up to 1 kg, which purity is at least 999.9 – for gold, 999 – for silver, 999,5 – for platinum and palladium. Nominal values of ingots: 1 g; 2 g; 2.5 g; 5 g; 10 g; 20 g; 1 ounce; 50 g; 100 g; 250 g; 500 g; 1,000 g.

Gold is an indispensable asset for diversification of savings (capital allocation to reduce risks and losses). The unblemished reputation of “yellow metal” provides it a special position among other assets. At the same time, one should not forget that gold at any moment can perform the function of money due to its unique properties: chemical inertness, which guarantees an indefinite period of storage, concentration of high value in a small physical volume. Gold is a reflection of global inflation. Its price is affected by various indicators, such as supply and demand, economic and political situation in the world, price of natural resources, as well as level of its reserves in the soil.

It's no secret that virtually all countries of the world have gold reserves. This eloquently indicates the reliability and value of storing savings in bank gold.

According to Resolution of the Board of the National Bank of Ukraine dated 13.12.2016 No. 410 (as amended) a number of restrictions are imposed on the transactions with bank metals, namely:

• transactions related to sale of cash bank metals to one person on one operating (business) day are conducted to an amount not equal and not exceeding the equivalent of UAH 150,000 within the same bank (this restriction does not apply to coins made of precious metals);
• transactions related to sale of bank metals for cashless hryvnia funds to individuals/legal entities/sole entrepreneurs are conducted to a total amount not exceeding 3,216 troy ounces of gold within one calendar week in one banking institution per one client (the equivalent of this amount in other bank metals converted at the cross rate, determined according to official rates of bank metals established by the National Bank of Ukraine).

An individual has the right to import and export bank metals outside Ukraine weighing no more than 500 g in the form of ingots and coins subject to written declaration to the customs authority to the fullest extent.

An individual has the right to export bank metals outside Ukraine weighing over 500 g in the form of ingots and coins subject to written declaration to the customs authority to the fullest extent and on the basis of documents confirming acquisition of bank metals by this person in authorized banks and/or the National Bank of Ukraine.

Bank metals weighing over 500 g may be imported into Ukraine solely by authorized banks.