STUDI KOMPARATIF INVESTASI EMAS DAN INVESTASI SAHAM PADA PT. ANEKA TAMBANG, TBK: ANALISA KINERJA KEUANGAN DAN PERSEPSI GENERASI Z
Abstract
This study aims to analyze the comparison between the performance of gold investment and stock investment in PT. Aneka Tambang, Tbk, as well as to identify the perspectives of Generation Z investors in Palembang City toward both investment instruments. This research employed a mixed method approach using quantitative and qualitative methods. Quantitative data consisted of historical gold prices and stock prices of PT. Aneka Tambang, Tbk, which were analyzed through return calculations, risk measurement, and comparative statistical tests. Qualitative data were obtained through questionnaires distributed to 100 Generation Z respondents in Palembang City who were interested in gold and stock investments. Data analysis was conducted using the independent sample t-test. The results showed that there was no significant difference in the rate of return between gold investment and stock investment. However, there was a significant difference in the level of risk, where gold investment had a lower level of risk compared to stock investment. Furthermore, this study revealed that Generation Z in Palembang City showed greater interest in gold investment because it is considered safer and more stable than stock investment.
Keywords : Investment, Gold, Stock, Return, Risk, Generation Z
Full Text:
PDFReferences
Ahsanah, D. N. (2022). EMAS SEBAGAI INSTRUMEN INVESTASI JANGKA PANJANG. Jurnal Kajian Ekonomi Hukum Syariah, 8(1), 177–187.
Andini, M. R. P., & Efendi, M. (2026). Volatilitas Harga Emas sebagai Safe Haven dan Hedge di Indonesia: Model GARCH. Jurnal Ekonomi Dan Bisnis, 5(1), 17–27. https://doi.org/10.33633/jekobs.v5i1.15366
Aredia, Z. U., & Aji, N. P. (n.d.). PENGARUH FINANCIAL INCLUSION, PENGETAHUAN INVESTASI, MOTIVASI INVESTASI, DAN MEDIA SOSIAL TERHADAP MINAT INVESTASI DIGITAL GEN Z DI SOLORAYA.
Avrilly, J. A., Setiawan, A., & Djajadikerta, H. (2024). Melangkah ke Dunia Pasar Modal: Menguak Pengaruh Literasi Digital, Literasi Keuangan, dan Kemajuan Teknologi Investasi terhadap Minat Investasi Generasi Z. Journal of Social and Economics Research.
Baur, D. G., & Lucey, B. M. (2010). Is Gold a Hedge or a Safe Haven? An Analysis of Stocks, Bonds and Gold. Financial Review, 45(2), 217–229. https://doi.org/10.1111/j.1540-6288.2010.00244.x
Darmawan. (2022). Manajemen Investasi dan Portofolio (Amirah ulinnuha, Ed.; 1st ed.). PT https://books.google.co.id/books?id=1MLHEAAAQBAJ&lpg=PR4&hl=id&pg=PA15#v=onepage&q&f=false
Destari Harahap & Aryanti. (2026). Hasil Olahan Data.
Fahmi, I. (2020). Buku Manajemen Keuangan Irham Fahmi 2020 (Cetakan ke-7). Alfabeta.
Faizah, U. Z., & Mangole, A. (2025). Pengaruh Pengetahuan Investasi, Manfaat Investasi dan Keamanan Terhadap Minat Investasi Emas Digital pada Generasi Z. Journal of Management, Economics, and Entrepreneur, 4(2). https://ejournal.iainu-kebumen.ac.id/index.php/maen
Fitradinata, K., Rizky Anes, M., Irfan Syah, M., Fadhli, M., & Fatur Nugraha, R. (2025). BIMA: Journal of Business Inflation Management and Accounting.
Halim, A., Perwira Ompusunggu, D., Rosida Simbolon Jurusan Ekonomi Pembangunan, T., & Palangka Raya, U. (2026). Peran Emas sebagai Safe Haven di Tengah Melemahnya Rupiah dan Turunnya Daya Beli Masyarakat. 9(1), 1–12. www.exchange-rates.org/id/logam-mulia/emas/indonesia
Harahap, L. R., Mulyana, A., Susilawati, E., Hendri Putranto, A., Arfianty, Muangsal, Suryanita Supyan, I., Kurniawan, R., & Soegiarto, D. (2023). manajemen-keuangan.
Ivo Vera Wahyu Ningsih, Sugiharto, & Setio Utomo. (2021). Perbandingan Return Investasi Emas Dan Investasi Saham (Capital Gain) PT. Aneka Tambang Tbk Pada Periode Januari 2019 – April 2020.
Jogiyanto, H. (2022). Portofolio dan Analisis Investasi (1 (2022)). Anggota IKAPI. https://books.google.co.id
Johan, I. R., & Azarian, S. A. (2025). PERSEPSI RISIKO, FINANCIAL SELF-EFFICACY DAN MINAT INVESTASI EMAS PADA GENERASI Z. Jurnal Ilmu Keluarga Dan Konsumen, 18(1), 26–37. https://doi.org/10.24156/jikk.2025.18.1.26
Kusumaningrum, N., Gustirina, S., & Andini, Y. (2024). Eco-Iqtishodi Analisis Return dan Risiko Pada Investasi Syariah. (1), 100–114.
Mardhiyah, A., Fakultas, D., Dan, E., Islam, B., & Langsa, I. (n.d.). PERANAN ANALISIS RETURN DAN RISIKO DALAM INVESTASI.
Muhammad Dzikrullah. (2024). Analisis Perbandingan dan Perbedaan Return Investasi Saham Di BEI dengan Return Investasi Emas Di PTANTAM Tbk (Tahun 2019-2023).
Novia, S. (2023). DETERMINAN MINAT INVESTASI GENERASI Z (Vol. 3, Number 1).
Olahan Data SPSS. (2026). Olahan Data SPSS.
Pande, P., Dewi, R. A., Budiadnyani, N. P., & Frinabila, A. (2024). Literasi Keuangan, Financial Planning Dan Financial Behavior: Faktor Penentu Keputusan Investasi Generasi Z Di Denpasar. JURNAL MANEKSI, 13(4).
Raihan, F., Yananto, P. :, Putra, M., & Si, M. (2021). Analisis Konsep Risk dan Return Disusun untuk melengkapi Tugas Manajemen Keuangan Oleh.
Rimawan, M., Muniarty, P., Muthiah, H., Yuliati, R., & Tinggi Ilmu Ekonomi Bima, S. (2025). Generation Z’s Investment Interest: The Role of Financial Literacy, Social Media, and Social Influence. Nusantara Hasana Journal, 5(7), 176–186.
Sylviana Aulia Kurnia Putri. (2025). EVALUASI PERBANDINGAN RETURN DAN RISK INVESTASI SAHAM SYARIAH DAN INVESTASI EMAS DI PT PEGADAIAN (PERSERO) TAHUN 2019- 2024 DI INDONESIA.
Tandelilin, E. (2017). Pasar Modal ( Manajemen Portofolio & Investasi). PT Kanisius. https://balaiyanpus.jogjaprov.go.id/opac/detail-opac?id=301756
Tannadi, belvin. (2020). Ilmu saham : Analisis Fundamental. 2020. https://books.google.co.id/books?id=K6L9DwAAQBAJ&lpg=PP1&ots=p919HGfV2h&dq=tannadi%202020%20saham&lr&hl=id&pg=PP1#v=onepage&q=tannadi%202020%20saham&f=false
Vindy Hariyani. (2021). ANALISIS PERBANDINGAN RETURN DAN RISIKO INVESTASI PADA SAHAM SYARIAH DAN EMAS DI INDONESIA. 15(4), 1–30.
Widuhung, S. D. (2014). Perbandingan Return dan Risiko Investasi pada Saham Syariah dan Emas Sisca Debyola Widuhung (Vol. 2, Number 3).
Yuliyanti, L., & Muntashofi, B. (2025). JURNAL PENDIDIKAN AKUNTANSI INDONESIA DIGITAL FINANCIAL LITERACY AND FINANCIAL MANAGEMENT BEHAVIOR AS DRIVEN OF INVESTMENT DECISIONS.
DOI: https://doi.org/10.71312/mrbest.v5i2.1032
Media Riset Bisnis Ekonomi Sains dan Terapan (MRBEST) Indexed by:
Publisher: Taksasila Edukasi Insani
Contact: Tri Ananto
Publisher Address: Jl. Cireundeu Raya No.1A, RT.002/RW.06, Kelurahan Cireundeu, Kecamatan Ciputat Timur, Kota Tangerang Selatan, Banten 15419.
Copyright © 2023 Media Riset Bisnis Ekonomi Sains dan Terapan (e-ISSN: 2987-1875 )
Media Riset Bisnis Ekonomi Sains dan Terapan © 2023 by Taksasila Edukasi Insani is licensed under Creative Commons Attribution-ShareAlike 4.0 International .





