ANALISIS PERAN EMAS SEBAGAI INSTRUMEN HEDGING DALAM STABILITAS NILAI KEKAYAAN

Abstrak

This study aims to evaluate the role of gold as a hedging instrument rather than a primary investment asset. Many people still perceive gold as a safe and profitable long-term investment, whereas financial theories suggest that gold functions more as a hedge against inflation and economic instability. Through a literature review and historical data analysis, this study finds that gold’s long-term returns are lower than those of stocks and bonds, making it less optimal as a primary investment asset. Additionally, gold prices tend to be volatile and influenced by external factors such as monetary policies and global uncertainty, further reinforcing its role as a safe haven rather than a growth investment instrument. This study's limitation lies in its qualitative approach, as it does not include statistical testing of the relationship between gold prices and economic factors. Therefore, future research is recommended to adopt quantitative methods and surveys to gain a deeper understanding of public perceptions regarding gold’s role in investment strategies. Thus, this study aims to help individuals make more informed financial decisions and avoid misconceptions about gold as a primary investment asset.