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All Journal Journal of Applied Islamic Economics and Finance
Iklima Azka Nur Raudhah
Politeknik Negeri Bandung
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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The Influence of Gold Prices, Inflation and Exchange Rates on Sharia Stock Index: Jakarta Islamic Index Period 2022-2024 Iklima Azka Nur Raudhah; Fatmi Hadiani; Nafisah Ruhana; Ine Mayasari
Journal of Applied Islamic Economics and Finance Vol. 6 No. 2 (2026): Journal of Applied Islamic Economics and Finance (February 2026)
Publisher : Jurusan Akuntansi Politeknik Negeri Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35313/jaief.v6i2.6777

Abstract

This research aims to analyze the influence of Gold Price variables and Macroeconomic Variables (Inflation and Exchange Rate) on the Sharia Stock Index: Jakarta Islamic Index (JII30) for the 2022-2024 period and processed using a quantitative approach. The method used is the Vector Error Correction Model (VECM). The data used in this research is in the form of average monthly secondary data on JII30. Sharia Stock Index and PT Gold Prices ANTAM published by Logam Mulia website, monthly secondary data on inflation published by the Central Statistics Agency and IDR/USD Exchange Rate published by Bank Indonesia (BI) for the 2022-2024 period. The results of this study indicate that the Gold Price variable and Exchange Rate variable have a significant negative effect on JII30. The Inflation variable has not significant effect on JII30. The Gold Price, Inflation, and Exchange Rate variables simultaneously have a positive effect on JII30.
Co-Authors Hadiani, Fatmi Mayasari, Ine Ruhana, Nafisah