Proceedings of the 3rd International Conference of Islamic Finance and Business, ICIFEB 2022, 19-20 July 2022, Jakarta, Indonesia

Research Article

Consumer Behavior in Gold Investing in The Pandemic of COVID-19

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  • @INPROCEEDINGS{10.4108/eai.19-7-2022.2328278,
        author={Suprianik  Suprianik and Nur Ika Mauliyah and Hikmatul  Khasanah},
        title={Consumer Behavior in Gold Investing in The Pandemic of COVID-19},
        proceedings={Proceedings of the 3rd International Conference of Islamic Finance and Business, ICIFEB 2022, 19-20 July 2022, Jakarta, Indonesia},
        publisher={EAI},
        proceedings_a={ICIFEB},
        year={2023},
        month={4},
        keywords={consumer behavior precious metal investment covid-19},
        doi={10.4108/eai.19-7-2022.2328278}
    }
    
  • Suprianik Suprianik
    Nur Ika Mauliyah
    Hikmatul Khasanah
    Year: 2023
    Consumer Behavior in Gold Investing in The Pandemic of COVID-19
    ICIFEB
    EAI
    DOI: 10.4108/eai.19-7-2022.2328278
Suprianik Suprianik1,*, Nur Ika Mauliyah1, Hikmatul Khasanah1
  • 1: Department of Islamic Economics - UIN KHAS Jember
*Contact email: anniesuprianik84@gmail.com

Abstract

The Covid-19 pandemic in Indonesia has had a major impact on the Indonesian economy. The Covid-19 pandemic has caused the world community to experience an economic downturn, including in Indonesia. As a result of this pandemic, many businesses have gone out of business. Behind all the investors' losses, there is one type of investment that has experienced an increase during the downturn, namely the investment in the precious metal gold. Since the beginning of the covid-19 pandemic began to spread, the price of gold has continued to increase. The purpose of this study is to analyze consumer behavior in investing amid the co-19 pandemic. Specifically, it can be said that consumer behavior in investing in precious metals is strongly influenced by external factors and internal factors. Internal factors that influence consumers to invest in gold in the midst of the Covid-19 pandemic are due to the gold price factor which always increases when the Covid-19 pandemic occurs. In addition, consumer income and brand attributes of a product also influence consumer behavior in investing in gold. The spread of buying and selling prices is the first factor that determines consumer behavior in investing in gold amid the co-19 pandemic. Meanwhile, external factors that influence consumer behavior are cultural, social, and rational expectations of price increases in the future after the Covid-19 pandemic.