Fiqran, Muh
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The Role of Investment Interest in Linking Inflation, Exchange Rate, and Interest Rate Perceptions to Gold Investment Decisions Syawal Senong Pakata, Ahmad; Fiqran, Muh; Fatima, Sitti; Nouruzzaman, Ahmad
Journal of Institution and Sharia Finance Vol. 8 No. 2 (2025): DESEMBER
Publisher : Program Studi Perbankan Syariah, IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/joins.v8i2.9905

Abstract

This study aims to analyze the effect of inflation perception, exchange rate, and interest rate on gold investment decisions with investment interest as a mediating variable. The study uses a quantitative approach with an explanatory design. Data were collected through a survey using a questionnaire administered to respondents who had experience or interest in gold investment using purposive sampling. Data analysis was performed using Partial Least Squares-based Structural Equation Modeling (PLS-SEM). The results show that inflation perceptions have a positive and significant effect on investment interest, while exchange rates and interest rates do not have a significant effect on investment interest. In addition, these three macroeconomic variables do not have a significant direct effect on gold investment decisions. Conversely, investment interest has a positive and significant effect on gold investment decisions. The mediation analysis results show that investment interest fully mediates the relationship between inflation perception and gold investment decisions. These findings indicate that psychological factors play an important role in explaining individual investment behavior.