Investing in precious metals as a tool of financial security for retirement

The thesis deals with possibility of investing in precious metals (with a great focus on gold) as a way to have financial savings for retirement and comparing it with more widely used saving tools in the Czech Republic that are used for such purposes - sup-plementary pension insurance, life savings and more. The first part of this work looks at Czech pension system before and after its reforms and pointing out its unsustainability for the future. It then proceeds to look in history of investing in gold and analyze in great depth its benefits and disadvantages. The practical part was divided into financial analysis based on the example of the statistically average Czech citizen and a question-naire, which was attended by 288 respondents, mainly students or university graduates. Although the results of the work showed the suitability of gold and other precious met-als in the issue of financial security for retirement, we shouldn't also forger their disad-vantages when choosing them for this purpose. When creating a financial portfolio, one should think about involving a whole range of financial products - whether stock, bonds or its supplementation in the form of advantageous supplementary pension savings. Pre-cious metals undoubtedly have a place there, but they should be used primarily for their specific investment characteristics and advantages: as a hedge against inflation and mar-ket fluctuations of non-correlated financial instruments