Abstract

The issue of war between Russia and Ukraine is in the spotlight in various parts of the world, the war that resulted in the two parties having several impacts, one of which is the phenomenon of rising crude oil prices. The increase in crude oil prices causes inflation which will have an impact on changes in gold prices. This study aims to examine the effect of crude oil prices and inflation on gold prices and focus on the effect of inflation to moderate oil prices in determining gold prices. This type of research is quantitative research, the population and sample in this study are the gold price of the sample technique carried out in research using purposive sampling technique. The method used in this research is multiple linear regression analysis method. The findings from the multiple linear regression analysis model give the results of all independent variables having a positive effect on the bond variable. The results of testing the hypothesis prove that there is a positive relationship between the inflation variable and the price of gold and the inflation variable can moderate the price of crude oil in determining the price of gold.