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AnalysisAnalysis of Gold Price Fluctuations in Indonesia in the Third Quarter of 2025 of Gold Price Fluctuations in Indonesia in the Third Quarter of 2025 Diana Magfiroh; Komarudin Komarudin
Return : Study of Management, Economic and Bussines Vol. 4 No. 10 (2025): Return: Study of Management, Economic and Business
Publisher : PT. Publikasiku Academic Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57096/return.v4i10.448

Abstract

This study examines the fluctuations of domestic gold prices in Indonesia during the third quarter of 2025, which were influenced by complex interactions between global and domestic macroeconomic factors. Gold plays a crucial role as an investment instrument and hedge asset, making it important to understand the determinants of its price movements, particularly in emerging markets such as Indonesia. This research aims to analyze the influence of external factors, including world gold prices, rupiah exchange rates, global inflation, and global interest rates, on domestic gold price fluctuations. This study employs a quantitative approach using time series data for the period July–September 2025. The analysis methods include multiple linear regression (OLS) to examine the simultaneous effects of variables, the GARCH model to analyze volatility patterns, and the Granger causality test to identify causal relationships among variables. The results indicate that world gold prices and rupiah exchange rates have a significant and dominant influence on domestic gold prices, while global interest rates also show a meaningful effect. In contrast, global inflation does not have a significant direct impact. Furthermore, gold price volatility exhibits a clustering pattern, indicating that periods of high volatility tend to be followed by similar conditions. In conclusion, domestic gold price movements in Indonesia are strongly driven by external macroeconomic factors, particularly global gold prices and exchange rate dynamics. This study contributes to the literature by integrating regression, volatility, and causality analysis within a specific quarterly context. The findings imply that investors and policymakers should closely monitor global economic indicators to manage risks and formulate effective strategies in responding to gold market fluctuations
Tata Kelola Data dan Pengendalian Digital di Era Kecerdasan Buatan: Kajian Kepustakaan tentang Integrasi Data Governance, Artificial Intelligence, dan Cyber Control dalam Sistem Pengendalian Manajemen Aceng Abdul Hamid; Komarudin Komarudin
Jurnal Ekonomi, Teknologi dan Bisnis Vol. 5 No. 5 (2026): Jurnal Ekonomi, Teknologi dan Bisnis
Publisher : Al-Makki Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57185/ks777080

Abstract

Transformasi digital memperluas cakupan Sistem Pengendalian Manajemen (SPM) dari pengendalian strategis dan perilaku menuju pengendalian digital yang bertumpu pada tiga pilar teknis: tata kelola data (data governance), kecerdasan buatan (artificial intelligence), dan pengendalian keamanan siber (cyber control). Penelitian ini bertujuan memetakan konsep dan ruang lingkup ketiga pilar sebagai perluasan pengendalian digital dalam kerangka SPM, menganalisis keterkaitan integratif ketiganya sebagai satu ekosistem tata kelola digital yang saling memperkuat dan merumuskan proposisi teoretis mengenai hubungan integrasi tata kelola digital dengan kematangan digital dan kinerja organisasi. Penelitian menggunakan pendekatan kualitatif berjenis studi kepustakaan (library research) dengan sumber utama buku Tata Kelola Data dan Pengendalian Digital, dilengkapi literatur pendukung, regulasi, dan laporan lembaga resmi, yang dianalisis melalui analisis isi dan analisis tematik. Hasil kajian menunjukkan tata kelola data menjadi fondasi yang menjamin kualitas dan keandalan informasi; kecerdasan buatan memperkuat perencanaan, pengukuran kinerja, dan deteksi risiko, tetapi menuntut tata kelola algoritma yang bertanggung jawab agar tidak menimbulkan bias; sedangkan cyber control melindungi aset data dan sistem AI dari ancaman siber. Ketiga pilar saling bergantung dan membentuk ekosistem tata kelola digital yang hubungannya dengan kinerja organisasi bersifat kontingen, dipengaruhi kepemimpinan digital, kesiapan sumber daya manusia, dan budaya berbasis data. Penelitian ini berkontribusi berupa kerangka integratif tiga pilar tata kelola digital sebagai landasan konseptual bagi penelitian empiris lanjutan dan praktik pengendalian manajemen di era kecerdasan buatan.