The Impact of World Oil Prices and World Gold Price on the Indonesian Sharia Stock Price Index Moderated by Inflation (2017-2021 Period)

Abstract

The goal of this study is to assess the impact of global oil and gold rates on the stock price index, which is mitigated by inflation. The Moderating Regression Analysis method is utilized to handle data in this study. The study's findings imply that independent variables like as oil prices have an positive influence on ISSI and global gold prices have an negative influence on ISSI. The findings of interaction experiments moderated by inflation demonstrate that inflation can greatly mitigate the influence of global oil prices on ISSI. Meanwhile, the results of inflation modified interaction experiments show that inflation cannot moderate the influence of global gold prices on ISSI.