<![CDATA[This study aims to analyze the effects of Financial Literacy, Expected Return, and Perceived Risk on gold investment intention through the Pegadaian Digital Application, as well as their relevance to financial behavior dynamics. This study employed a quantitative approach using multiple linear regression analysis. Primary data were collected through questionnaires distributed to Millennials and Generation Z in the Greater Jakarta (Jabodetabek) area using a purposive sampling technique. The results show that Financial Literacy and Expected Return have positive and significant effects on gold investment intention, with Expected Return identified as the most dominant motivating factor. In contrast, Perceived Risk does not have a significant effect on gold investment intention. These findings indicate that Millennials and Generation Z tend to perceive gold as a relatively safe asset and demonstrate a high level of trust in digital platforms. Their investment behavior also appears to be more strongly oriented toward achieving future financial goals than toward concerns about short-term price fluctuations. These findings provide useful insights for academics and practitioners in developing financial education programs and digital investment products that align with the preferences of Millennials and Generation Z. PT Pegadaian is encouraged to proactively strengthen digital financial literacy programs, provide real-time transparency regarding buying and selling price movements to promote realistic expectations of investment returns, and enhance cybersecurity measures to minimize concerns regarding customer data privacy and maintain long-term investor loyalty.]]>
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