ANALISIS BI RATE, HARGA EMAS DUNIA, INDEKS DJIA, DAN INDEKS VIX SEBAGAI PENENTU IHSG PERIODE 2020:3-2024:6

The purpose of this study is to determine the long-term and short-term effects of the BI rate, world gold price, DJIA index, and VIX index on the Indonesia Stock Exchange Composite (IDX Composite) for the period 2020:3 - 2024:6. This study uses Autoregressive Distributed Lag (ARDL) quantitative analysis with Eviews 12 software. The data used are time series data (monthly) and secondary data sources. The results show that partially in the long term the BI rate variable, the world gold price has a significant negative effect on the IDX while the DJIA index variable and the VIX index have a significant positive effect on the IDX. In the short term the BI rate variable in last month and one month earlier (lag 1) had a significant negative effect on the IDX. The world gold price variable in last month had no effect on the IDX while the previous month (lag 1) had a significant positive effect on the IDX. The DJIA index variable in last month has a significant positive effect on the IDX. The VIX index variable in last month, one month earlier (lag 1), and two months earlier (lag 2) had a significant positive effect on the IDX.

Keywords: JCI, BI Rate, Global Gold Price, DJIA Index, VIX Index.