CITEDENESS
The Impact of Gold Price Volatility on MSMEs’ Access to Financing: A Systematic Literature Review
(1) Faculty of Islamic Studies, Muhammadiyah University of Mataram, Indonesia
(2) Faculty of Islamic Studies, Muhammadiyah University of Mataram, Indonesia
(*) Corresponding Author
Abstract
Introduction: This study aims to examine the relationship between fluctuations in gold prices and access to financing for MSMEs using a qualitative approach through a Systematic Literature Review (SLR).
Methods: Data sources were obtained from various reputable scientific databases, such as Google Scholar, Scopus, ScienceDirect, and Web of Science, covering the publication period from 2015 to 2025, with a literature selection process adhering to the PRISMA guidelines.
Results: The analysis results indicate that gold price fluctuations have a significant and asymmetric impact on SME access to financing. An increase in gold prices contributes to higher collateral values, greater borrowing capacity, and expanded credit access, whereas a decrease in gold prices leads to lower collateral values, increased credit risk, and restricted access to financing. These findings confirm that gold plays a strategic role as a financial instrument for SMEs. Nevertheless, research gaps remain, particularly regarding the integration of financial behavior analysis, the response of financial institutions, and the utilization of predictive models.
Conclusion and suggestion: Future research should focus on developing technology-based approaches and innovative financing schemes that are adaptive and sustainable.
Keywords
Gold Price Fluctuations, SME Financing, Access to Credit, Collateral, Systematic Literature Review
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DOI: 10.70095/alamwal.v18i1.24451
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