PENGARUH INFLASI, SUKU BUNGA DAN NILAI TUKAR TERHADAP HARGA LOGAM MULIA PADA PT ANTAM TBK PERIODE 2019-2025

Anisa Anisa; Siti Fatonah; Leni Triana

doi:10.53363/yud.v6i3.235

Authors

Anisa Anisa Universitas Bina Bangsa
Siti Fatonah Universitas Bina Bangsa
Leni Triana Universitas Bina Bangsa

DOI:

https://doi.org/10.53363/yud.v6i3.235

Keywords:

Inflation, Interest Rate, Exchange Rate, Precious Metal Price.

Abstract

This research is motivated by fluctuations in precious metal prices, which are influenced by macroeconomic conditions, particularly inflation, interest rates, and exchange rates.

This study aims to analyze the influence of inflation, interest rates, and exchange rates on precious metal prices at PT Aneka Tambang Tbk for the period 2019–2025, both partially and simultaneously.

The study uses a quantitative method with an associative approach. The data used are secondary monthly data from January 2019–December 2025, totaling 84 observations, obtained from Bank Indonesia and PT Aneka Tambang Tbk. Data analysis was performed using SPSS version 27 using multiple linear regression analysis, classical assumption tests, coefficient of determination tests, t-tests, and F-tests.

The results showed that inflation had a negative and significant effect on precious metal prices (t-count = -2.839 < -1.678; sig = 0.007 < 0.05). Interest rates had no significant effect on precious metal prices (t-count = 1.028 < 1.678; sig = 0.309 > 0.05). While the exchange rate had a positive and significant effect on precious metal prices (t-count = 6.906 > 1.678; sig = 0.000 < 0.05). Simultaneously, all three variables had a significant effect, with an Adjusted R-square value of 0.702.

The results of the study concluded that inflation, interest rates, and exchange rates simultaneously influence precious metal prices

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