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Analysis of Factors Affecting Prices Indonesian Gold Spot With ARDL Model sasrinawati, sasrinawati; Husein, Ratna; Nailufar, Fanny; Ichsan, Ichsan
JURNAL HURRIAH: Jurnal Evaluasi Pendidikan dan Penelitian Vol. 6 No. 2 (2025): Jurnal Hurriah: Journal of Educational Evaluation and Research
Publisher : Yayasan Pendidikan dan Kemanusiaan Hurriah Aceh

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Abstract

This study examines the impact of macroeconomic variables—namely inflation and exchange rates—on Indonesian gold spot prices from 1995 to 2018, employing the Autoregressive Distributed Lag (ARDL) model. The study seeks to comprehend the short-term and long-term correlations among these variables. Time series data were obtained from the Indonesian Central Statistics Agency, Index Mundi, and the Gold Price Chart. The findings indicate that, in the near term, inflation negatively and significantly affects gold prices, however, in the long term, it positively and significantly influences them. Likewise, the exchange rate exerts a substantial and adverse impact in both the short and long run, suggesting that a stronger Rupiah generally elevates gold prices. The ARDL model validates the existence of a cointegrated relationship among the variables, corroborated by the limits testing methodology. Diagnostic assessments confirm the stability and reliability of the calculated model. These findings indicate that the regulation of inflation and exchange rates is essential for maintaining gold price stability in Indonesia.
Strategic Implementation of Multipurpose Financing in Islamic Banking Khairisma; Muhammad Yoesoef, Yoesrizal; Putri Mellita Sari, Cut; Nailufar, Fanny; Andyna, Cut
Jurnal Ekonomi Syariah, Akuntansi dan Perbankan (JESKaPe) Vol. 9 No. 1 (2025): Jurnal Ekonomi Syariah, Akuntansi dan Perbankan (JESKaPe)
Publisher : Institut Agama Islam Negeri Lhokseumawe

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52490/jeskape.v9i1.6431

Abstract

This study explores the strategic implementation of multipurpose financing at Bank Aceh Syariah Bireuen Branch using a qualitative descriptive approach with a SWOT analytical framework. Six informants were involved, consisting of three bank staff and three customers selected purposively based on their relevance to the financing process. Data were collected through interviews, observations, documents, and questionnaires, then analyzed using IFAS–EFAS matrices to identify internal and external strategic factors. The results show that the branch is positioned in SWOT Quadrant II, indicating strong internal capabilities amidst significant external threats. Key strengths include sharia-compliant financing, responsive service, and wide community trust, while the main challenges stem from limited product variety, modest promotion, and rising competition from national Islamic banks with advanced digital platforms. Based on the SWOT positioning, the study recommends prioritizing feasible strategies such as product diversification, digital development, and customer-centered outreach. This study contributes to the discourse on Islamic regional banking by offering a contextualized, branch-level analysis of strategy formulation. Future research is encouraged to involve more branches and diverse stakeholders to expand the applicability of findings.