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All Journal Jurnal Online Mahasiswa (JOM) Bidang Keguruan dan Ilmu Pendidikan Jurnal Review Pendidikan dan Pengajaran (JRPP) SOCIAL : Jurnal Inovasi Pendidikan IPS Indo-MathEdu Intellectuals Journal Jurnal Teknologi dan Manajemen Industri Terapan Nusantara Journal of Multidisciplinary Science Seminar Nasional Teknologi dan Multidisiplin Ilmu Mengabdi: Jurnal Hasil Kegiatan Bersama Masyarakat Jurnal Ilmiah Ekonomi, Akuntansi dan Pajak Masyarakat Berkarya: Jurnal Pengabdian dan Perubahan Sosial
Riris Lawitta Riris Lawitta, Riris Lawitta Riris
Universitas Musamus, Merauke
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Public Health Social Sciences Other

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The Effect of Gold Prices on The Composite Stock Price Index with Inflation as A Moderating Variable Marieska Lupikawaty; Novitasari; Angga Nugraha; Vidya Ramadhan Putra Pratama; Riris Lawitta
Jurnal Teknologi dan Manajemen Industri Terapan Vol. 4 No. 3 (2025): Jurnal Teknologi dan Manajemen Industri Terapan
Publisher : Yayasan Inovasi Kemajuan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55826/jtmit.v4i3.1603

Abstract

This study aims to analyze the influence of global gold price fluctuations on the Jakarta Composite Index (JCI), with inflation as a moderating variable. Using portfolio theory and the efficient market hypothesis, this study examines gold as a safe-haven asset and its relationship with the domestic capital market during periods of inflationary pressure. The data used are secondary time series data analyzed using the Moderate Regression Analysis (MRA) method. The results show that gold prices have a significant influence on JCI movements, but the strength of this relationship depends strongly on the inflation rate. Inflation is found to act as a moderating variable, strengthening the shift in investment from the stock market to gold when the currency's purchasing power declines. This research provides strategic implications for investors in diversifying their portfolios and for policymakers in maintaining the stability of the national financial market.
Co-Authors Angga Nugraha Arianti, Juli Chandra Agus Wahyudi Wahyudi Hendripides Hendripides ' Juli Arianti Juli Arianti Marieska Lupikawaty Mutiya Oktariayani Najdah T Najdah Thaib Najdah Thalib Najdah Thalib NOVITASARI Rina Selva Johan Selva Johan Situmorang, Prima Lestari T, Najdah Thalib, Najdah Vidya Ramadhan Putra Pratama Yohannes Putra Perkasa Sinambela