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All Journal Jurnal Ekonomi Daerah (JEDA) Jurnal Edukasi dan Penelitian Informatika (JEPIN) Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi Ecces: Economics, Social, and Development Studies ABDI EQUATOR
ROMI SURADI ME
Universitas Tanjungpura
Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Social Sciences

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Journal : Ecces: Economics, Social, and Development Studies

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Dynamics of Gold Prices in Indonesia; A Short-Term and Long-Term Estimation Approach Hasanudin; Romi Suradi; Eko Supriyanto; Angga Permadi
EcceS (Economics, Social, and Development Studies) Vol 9 No 1 (2022): June
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/ecc.v9i1.29325

Abstract

The issue of reinstating the role of gold in the financial system which was no longer supported by gold since 1971 resurfaced. The role of money based on gold is an attempt to create a stable and fair monetary system. This study tries to see the effect of GDP growth, inflation, dollar exchange rate, and the composite stock price index on gold prices in Indonesia. The analysis technique used is ARDL (Autoregressive Distributed Lag). The results showed that the variables of GDP, inflation, dollar exchange rate, and JCI in the long term ARDL had no significant effect. In the short term for 1991Q1 – 2019Q3 data, the dollar exchange rate variable has a positive effect on gold prices. Meanwhile, in the short term, data for 1999Q2 – 2019Q3 GDP and the dollar exchange rate have a negative effect on gold prices. This shows that in the short term gold can be used as safe storage when the country's economic growth is unstable. The implication of this research is the government and other related parties to continue to increase economic growth and gross domestic product, besides the importance of maintaining economic and political stability in order to ensure the sustainability of the economy in Indonesia, so that inflation can be more controlled and the composite stock price index will improve in the future.
Co-Authors Akhmad Yani Angga Permadi Arina Azwani Bintoro Bagus Purmono Eko Supriyanto Euis Etty Alhakim Hasanudin Metasari Kartika Muhammad Azhar Irwansyah Restiatun Restiatun Siti Alimah Sunarko Sunarko Yarlina Yacoub