Determinants of Gold Investment Decisions Under Economic Uncertainty
DOI:
https://doi.org/10.55606/jupiman.v5i2.6820Keywords:
Economic Uncertainty, Gold Investment, Investment Decisions, Investment Education, Risk ToleranceAbstract
Increasing global economic uncertainty and the growing accessibility of digital investment platforms have encouraged individuals to choose gold as a relatively safe investment instrument. This study aims to examine the effect of Risk Tolerance on gold investment decisions and investigate the mediating role of Investment Education among gold investors in Semarang City. A quantitative approach with a crosssectional survey design was employed. Data were collected from 200 respondents with knowledge or experience in gold investment using a purposive sampling technique. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLSSEM). The results indicate that Risk Tolerance has a positive and significant effect on gold investment decisions. Investment Education also has a positive and significant effect on gold investment decisions. However, Risk Tolerance does not significantly influence Investment Education. Furthermore, Investment Education does not mediate the relationship between Risk Tolerance and gold investment decisions. These findings suggest that gold investment decisions are primarily influenced directly by investors’ risk tolerance, while investment education serves as an independent factor that enhances the quality of investment decisionmaking.
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Copyright (c) 2026 Abdul Syukur, Fery Riyanto, Febrianur Ibnu Fitroh Sukono Putra, Yohannes Vianney Ario Nugroho, Rifal Richard Pangemanan
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