The Effect of Gold Prices on Transaction Volume at Pegadaians: A Study on Customers of the Mahameru Branch Pegadaian Unit

Abstract

This study is motivated by the increasing trend of gold prices during the period 2020–2024, which showed significant appreciation and affected transaction activities in gold-based financial institutions, particularly at the Mahameru Branch Pegadaian Unit. Gold, as a high-value and liquid economic asset, plays an important role in Pegadaian operations because price fluctuations directly influence appraisal values and the amount of loans received by customers. This study aims to analyze and empirically examine the effect of gold prices on transaction volume. The research applies an associative quantitative approach using time series data from 2020–2024 obtained from internal Pegadaian reports. Data analysis techniques include simple linear regression, a t-test to examine partial significance, and the coefficient of determination to measure the contribution of the independent variable to the dependent variable. The results indicate that gold prices have a positive and significant effect on transaction volume, with a calculated t-value of 2.524, greater than the t-table value of 2.002, and a significance level of 0.018, lower than 0.05. The regression equation obtained is Y = -2.572 + 0.007X, indicating that every increase in gold prices is followed by an increase in transaction volume. The coefficient of determination value of 0.191 shows that gold prices explain 19.1% of the variation in transaction volume, while the remaining percentage is influenced by other factors outside the research model.