JBMR: Journal of Business and Management Review
Vol. 1 No. 3 (2020): (Issue-September)

The Effect of Inflation, US Dollar Exchange Rates, Interest Rates, and World Oil Prices on Gold Price Fluctuations in Indonesia 2014 – 2019

Ummi Kalsum (Department of Management, Universitàs Muhammadiyah Palembang, Palembang, Sumatra Selatan, Indonesia)
Randy Hidayat (Department of Management, Universitàs Muhammadiyah Palembang, Palembang, Sumatra Selatan, Indonesia)
Sheila Oktaviani (Department of Management, Universitàs Muhammadiyah Palembang, Palembang, Sumatra Selatan, Indonesia)

Article Info

Publish Date
19 Sep 2020

Abstract

This study aims to determine the effect of inflation, US dollar exchange rates, interest rates, and world oil prices on fluctuations in gold prices in Indonesia in 2014 - 2019. This research is a type of explanatory research with a quantitative approach. The data used are monthly time series data for 2014 - 2019 with a sample of 72 samples. The multiple linear regression model is used as an analysis technique in this study. The results of this study indicate that simultaneously (F test) inflation, USD exchange rates, interest rates, and world oil prices have a significant effect on gold price fluctuations in Indonesia. Partially (t-test) shows that the USD exchange rate has a significant positive effect on gold price fluctuations in Indonesia. Inflation and interest rates have a negative and insignificant effect on fluctuations in gold prices in Indonesia. Meanwhile, world oil prices have a positive and insignificant effect on gold price fluctuations in Indonesia.

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Journal Info
JBMR: Journal of Business and Management Review
Website

Abbrev

jbmr

Publisher

Profesional Muda Cendekia

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

Description

Journal of Business and Management Review applies theory developed from business research to actual business situations. Recognizing the intricate relationships between the many areas of business activity, JBMR examines a wide variety of business decisions, processes and activities within the actual ...