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Economics Discuss The price of gasoline at the Political Forums; Originally Posted by Esmee Here's the local unit price: CNY7.15(USD1.125) per litre. Well, we're enthusiatic about discussing the American gasoline ...

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Old 01-03-2022, 07:50 AM
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Default Re: The price of gasoline

Quote:
Originally Posted by Esmee View Post
Here's the local unit price: CNY7.15(USD1.125) per litre.
Well, we're enthusiatic about discussing the American gasoline price:https://www.zhihu.com/question/47022...wer/2219677682

That's also what we agree with after enthusiastic discussing. I'm really unable to get why we ordinary Chinese people care about the US so much. *shrugs*
So that's about $5 a gallon. whew!
I found this interesting ...

Quote:
What is the Relationship Between Gold and Oil Prices?
We’ve explained to you before the relationship between gold and inflation, but have you ever wondered about the relationship between the gold price and the price of other commodities, such as oil? James Steel, Chief Commodities Analyst at HSBC Bank, spoke with CNBC during its “Commodities Corner” segment about how oil price movement affects gold.

To summarize his main points:

Gold and oil each have an inflationary relationship.
Gold and oil have a relationship through commodity indices. In other words, when energy prices and the price of energy-related commodities go down, so do oil prices. When this happens, managers of oil companies end up selling “millions of ounces of gold” that they have kept as a protective hedge (much like how gold is used as a hedge against inflation).
The relationship does break down at times and is not perfect. For example, oil prices haven’t moved much for 2-3 years whereas the gold price has been more volatile.
Sharp movements in oil prices have the strongest effect on gold, particularly if related to geopolitical events
Chinese buying has kept the gold market alive at this price. To learn more see our blog on Chinese gold demand. Consumer demand from China has stabilized the gold price and explains the reduction of volatility in the gold market.
As can be seen in this interactive chart, the sharpest rises and falls in oil prices (black line) are usually accompanied by large changes in the gold price (gold line), and both oil and gold have an inverse relationship with the U.S. dollar (green line).
see site for chart
The above may be old but this next one is from May 2021; it may be too lengthy for our discussion here, but serves to show there are different sources for this theory:
Quote:
Is gold price related to oil price?
The authors found a negative relation between oil and stock prices, but oil price is significantly and positively affected by gold and USD. Oil price is also affected by oil futures prices and by Chinese oil gross imports. Gold rate is concerned by changes in oil, USD and stock markets.
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Old 01-06-2022, 10:57 PM
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Default Re: The price of gasoline

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Originally Posted by saltwn View Post
So that's about $5 a gallon. whew!
I found this interesting ...
Yes, it's interesting thinking of our developing position and that's why so many ordinary Chinese people are eager to immigrate to your country. Those Chinese immigrates always post some messages telling us that the living standard is so low and the medical treatment is so high on some Chinese virtual community forum. I really once saw a picture in which a mother whose daughter marries an American after studying in the US squinted at us the common people outside of the picture.

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Old 01-06-2022, 11:40 PM
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Default Re: The price of gasoline

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Originally Posted by Esmee View Post
Yes, it's interesting thinking of our developing position and that's why so many ordinary Chinese people are eager to immigrate to your country. Those Chinese immigrates always post some messages telling us that the living standard is so low and the medical treatment is so high on some Chinese virtual community forum. I really once saw a picture in which a mother whose daughter marries an American after studying in the US squinted at us the common people outside of the picture.
my daughter taught English near Beijing about 15 years ago. She saw two different standards of living. Of course it is such a vast geographic area, one must take that into consideration. But some she met traveling by bicycle on her days off had never owned shoes and walked everywhere, while some in the city had traffic stopped (rerouted?) for their personal convenience when they needed to pick up their children from day care. She also experienced air pollution we have not experienced since the 1960's. But industrial revolutions in both Europe and the United States did ravage the air, land and water sources till we put stricter laws into place. And that would be hard to do just as mass industry was beginning.
Most of our workers are in service except for a few builders of housing and road work. We order almost all of our goods from emerging industry countries such as Vietnam and India...etc.,...
edited to say : we import immigrants from poor countries to work on industrial sized farms to the point I don't think many of our home grown youth can even milk a cow anymore (even here where I live in big farm country).
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