For our plywood market, that is, all export plywood prices will rise, until 2020-8-25, has increased 2% already.

By Sun Chao | China Daily | Updated: 2020-08-21 07:21

Amid growing concerns about the global economic outlook, geopolitical risks and the sporadic resurgence of the novel coronavirus epidemic, gold prices have been rising as safe haven asset buying continues to spur the price of the precious metal.

Despite the price of gold tumbling 4.7 percent to $1,932.28 on Tuesday after a multi-week rally and crossing the record high of $2,000 per ounce, the price of gold may still be in the early stage of a variable cycle.

The key to gold pricing is the change in the US dollar’s credit outlook and the state of the global economy. Before the Bretton Woods agreement of 1944, most countries followed the gold standard, that is, each country guaranteed that it would redeem its currency for its value in gold. Under the Bretton Woods agreement, however, countries promised that their central banks would maintain fixed exchange rates between their currencies and the US dollar－which was pegged to the price of gold－and therefore redeem their currencies for US dollars, making the US the world’s dominant economy.

But when the United States faced massive stagflation in 1971 and a dangerous dip in the dollar’s value caused by too much currency in circulation, US president Richard Nixon started deflating the dollar’s value in gold. However, the devaluation policy backfired, as people started redeeming their fast devaluing dollars for gold, which caused a run on US gold reserves. To stem tide, Nixon totally de-pegged the dollar from the price of gold, ending the Bretton Woods system.

After the US dollar ceased to be pegged to gold, it became the global monetary standard with other countries pegging their currencies to it－and continued to influence the price of gold.

The global credit system is centered on the dollar, yet, as the world currency, the dollar has not been stable, which allows gold to still play the role of credit currency. In general, when the US dollar’s credit outlook dips, gold gains in value.

There are two core indicators to determine the dollar’s credit outlook. First, the change in the dollar’s exchange rate is inversely proportional to the price of gold, which means the higher the dollar’s exchange rate vis-à-vis other currencies, the lower the gold price. For example, when the US economy appears to be stronger than those of other countries, the dollar’s credit outlook is strong, which is evident in the appreciation of the US currency and decline in gold prices, and vice-versa. There are exceptions, though. For instance, when the dollar and gold both are regarded as safe haven assets, the values of both could increase simultaneously.

Second, the change in the dollar’s actual interest rate is also inversely proportional to the price of gold, meaning the higher the dollar’s nominal interest rate, the lower the gold price; and the higher the inflation, the higher the gold price. The dollar’s actual interest rate is nominal interest rate minus inflationary factors.

History tells us that any serious regional or global political disturbance will cause gold prices to fluctuate, though such fluctuations are mostly short-term. And although commodity gold prices are also influenced by factors such as supply and season, the most important factor determining gold prices is still the dollar’s credit outlook.

True, gold doesn’t directly influence the real economy, but the recent spike in gold prices suggests the market expects some key factors to affect the global economic trend. To begin with, one apprehension is a weakening dollar. Since the beginning of this year, there has been remarkable increase either in the total asset of the Federal Reserve or M2 (broad money), making the dollar less attractive.

Also, this round of appreciation of the dollar has lasted for years, which means the dollar index is expected to reach a historical peak. As such, gold prices could have jumped in anticipation of the dollar weakening in the future.

In the short term, a weak dollar is conducive to capital flowing back into emerging markets, especially in Asia. In general, Asian economies have done a much better job of preventing and controlling the spread of the novel coronavirus. Actually, China has largely contained the virus, resumed economic activities and even registered 3.2 percent GDP in the second quarter of the year－and the flow of more capital into the Asian market will boost the recovery of China’s economy as well as other Asian economies.

And in the long run, a weak dollar is conducive to global credit expansion. Global financing is mainly priced in the US dollar, so is international credit which emerging economies rely on for financing. Yet despite promoting international credit expansion and economic growth, devaluation of the dollar could undermine emerging markets’ competitive edge in exports.

The main reason the Fed considered cutting the interest rate was the low inflation rate last year. But since the beginning of this year, the market has been expecting high inflation, mainly because the US has adopted extremely loose monetary and fiscal policies to cope with the impact of the pandemic that have remarkably increased M2. And if inflation continues in the future, the nominal interest rate is sure to increase even if the dollar’s actual interest rate remains unchanged－meaning gold prices could rise further.

نتمنى لجميع الأصدقاء المسلمين ، الأسرة سعيدة وصحية

شكرا لك على دعمكم و مساعدتنا في الماضي

نأمل أن صداقتنا والأعمال التجارية يمكن أن تذهب أبعد في المرة القادمة

نيابة عن الشركة ، أود أن أعرب عن خالص تمنياتي لك ولعائلتك

شكراً جزيلاً

1.)  15 containers 1250x2500x15mm black film poplar core core,two times hot press for Belgium.

2.)  15 containers 1250x2500x18mm black film poplar core core,two times hot press for Belgium.

3.)  10 containers 1250x2500x21mm black film poplar core core,two times & 15 containers 1250x2500x21mm black film poplar core core,one time hot press for France.

need finish load before May,2020.

We are stay in Pizhou Plywood area. 2020-3-21

after  Chinese Spring Festival, because of the COVID-19. so many material is hard to circulate, incloud logs and recycle board.

during these past one  and an half month, the veneer increased 0.05RMB/pc almost, and for the recycle core board from 28RMB per sheet to 30.5RMB per sheet now.

China’s epidemic is now well under control and will return to the same period last year within a month to two,

Release of controls, then the price will going to reduce. It is the good news for us.

we will update soon.

Thank you for your attention.

“I believe that as long as we strengthen our confidence, help each other, control and prevent the novel coronavirus appropriately, and implement policies precisely, we will definitely overcome this disease,” President Xi said during  meeting with World Health Organization Director-General Tedros Adhanom in Beijing on January 28.

Under President Xi Jinping’s leadership, China has taken unprecedented measures to contain the outbreak of novel coronavirus epidemic, pooling national medical personnel and supplies to the hardest hit regions, building new hospitals, extending the Chinese Lunar New Year holiday, postponing the opening dates for schools and businesses, and imposing travel restrictions. When the whole nation stands together, with scientific prevention and cures, and precise policies, this epidemic can surely be overcome.

About Novel Corona Virus Infection, the Chinese government is taking the most powerful measures currently，and everything is under control. Life is normal in most other parts of China by far, with only a few cities like Wuhan affected. I believe it will all return to normal soon.

关于新型冠状病毒感染，中国政府目前正在采取最有力的措施，一切都在控制之中。到目前为止，中国大部分地区的生活都是正常的，只有像武汉这样的少数城市受到了影响。我相信一切都会很快恢复正常。感谢您的关注！ Thanks for your concerns!

وفيما يتعلق بعدوى فيروس كورونا المستجد، تتخذ الحكومة الصينية الآن أقوى التدابير الممكنة، وكل شيء تحت السيطرة. حتى الآن، أصبحت الحياة طبيعية في أغلب أنحاء الصين، ولم يتأثر سوى عدد قليل من المدن مثل يوهان. وأعتقد أن كل شيء سيعود إلى طبيعته قريبا. شكرا لاهتمامكم!

In bezug auf die neue form der infektion hat die chinesische regierung gerade die wirkungsvollsten maßnahmen ergriffen und alles ist unter kontrolle. Bis jetzt war das leben in großen teilen chinas normal, und nur wenige städte wie wuhan Waren davon betroffen. Ich glaube, dass sich alles sehr schnell normalisieren wird. Ich danke ihnen für ihre aufmerksamkeit!

Что касается новой корональной инфекции, то китайское правительство в настоящее время принимает самые мощные меры, и все под контролем. До сих пор жизнь в большей части китая была нормальной, и только несколько городов, таких как вухан, были затронуты. Я уверена, что все скоро вернется в норму. Спасибо за внимание!

নতুন করোনাভাইরাস সংক্রমণের বিষয়ে, চীন সরকার বর্তমানে সবচেয়ে কার্যকর ব্যবস্থা গ্রহণ করছে এবং সবকিছু নিয়ন্ত্রণে রয়েছে। এখনও অবধি চীনের বেশিরভাগ অঞ্চলে জীবন স্বাভাবিক ছিল, ওহানের মতো কয়েকটি শহরই ক্ষতিগ্রস্থ হয়েছিল। আমি বিশ্বাস করি খুব শীঘ্রই সবকিছু স্বাভাবিক হয়ে উঠবে। আপনার মনোযোগের জন্য ধন্যবাদ!

No que se refere à nova infecção por coronavirus, o governo chinês está agora a tomar as medidas mais enérgicas e tudo está sob controlo. Até agora, a vida tem sido normal em grande parte da china, e apenas algumas cidades, como wuhan, foram afetadas. Estou certo de que tudo voltará ao normal em breve. Obrigado pela sua atenção!

Mengenai infeksi virus tipe baru, pemerintah cina mengambil langkah paling kuat, dan semuanya terkendali. Sejauh ini, sebagian besar warga cina normal, hanya kota-kota kecil seperti wuhan yang terkena dampaknya. Aku yakin semuanya akan segera normal kembali. Terima kasih atas perhatiannya!

En cuanto a la nueva infección coronaviral, el gobierno chino está tomando las medidas más enérgicas y todo está bajo control. Hasta ahora, la vida ha sido normal en gran parte de China, y sólo UN puñado de ciudades, como wuhan, se han visto afectadas. Estoy seguro de que pronto todo volverá a la normalidad. Gracias por su atención!

신형 코로나 바이러스의 감염과 관련해 중국 정부는 현재 가장 강력한 조치를 취하고 있으며 모든 것을 통제하고 있다.지금까지 중국 대부분 지역의 생활은 정상적이었다. 우한과 같은 소수 도시만 영향을 받았다.나는 모든 것이 곧 정상으로 회복될 것이라고 믿는다.관심을 가져주셔서 감사합니다!

新型コロナウイルスの感染について、中国政府は現在、最も有力な措置を取っており、すべてをコントロールしている。これまで中国の大部分の地域の生活は正常であり、武漢のような少数の都市だけが影響を受けた。すべてはすぐに正常に戻ると信じています。ご注目ありがとうございます!

.