It is important to remember that gold is one of the most respected currencies due to its rich history and value. Keep in mind that it has been part of numerous cultures for thousands of years, so people still consider it an essential aspect.

As soon as you check here, you will learn more about importance of precious metals for your particular requirements.

If we take a step back into history, we can say that the first coins appeared approximately 650 B.C., while the first pure coins became prominent hundred years later during the King Croesus of Lydia.

People used it as currency and protection for centuries, which is why it became a prominent and most popular way of protecting your wealth. Numerous economies depended on gold and its value, which is why the paper money entered circulation.

Still, we trustits value, mainly because it protects us against potential problems in the financial world. It means that it will have its value even when the economic crisis starts, making paper money obsolete.

In the further article, we provided a few reasons you should consider owning physical gold as a form of protection.

Let us start from the beginning.

Gold Can Hold Its Value

Compared with other assets, coins, and paper currency, gold is one of the most effective ways to maintain the overall value throughout time. Generally, people see it as a way to preserve and pass their wealth from one generation to the next.

Back in the day, people used this precious metal to value various properties and used it as the general currency, such as silver. You should check out the GoldCo company to learn more about the different options you can choose.

However, it cannot be melted with ordinary flame, and it cannot rust, which means that it can stand the test of time in your household.

Besides, it features fantasticcolor, which is precious to numerous people. Generally, atoms inside are much bulkier, while electrons are continually moving, which creates the ability to absorb light. That is the main reason for its appealing beauty and historical usage for jewelry.

Correlation with the U.S. Dollar

You should know that the U.S. dollar is one of the most used and essential currencies used for trading, safekeeping, and buying things worldwide. However, its value is problematic because it depends on numerous factors that can take it down.

For instance, between’98 and ’08, people started to buy reserves to prevent the dollar’s potential downturn, mainly due to inflation and economic crisis. As soon as people begin to buy gold, its prices will go up as a result.

If we check its value during the ten years, we have mentioned above, you should know that its price tripled, which indicates that the economy is notsufficient.

Between 2008 and 2012, it reached two thousand dollars per ounce, which was the highest value than past times.

Simultaneously, the dollar decline tends to happen due to numerous reasons, including a large increase in the money supply, trade deficits, large budgets, and many more.

Generally, gold works in the opposite direction compared with the dollar, which means that as dollars fall, the precious metal value grows as a result.

Protection against Inflation

Another essential consideration you should remember is that gold is a perfect way to protect your assets against potential inflation that can reduce the value of paper money and make your savings obsolete.

Inflation leads to higher prices, especially since the cost of living tends to increase as well. In the last fifty years, numerous investors have noticed that the stock market plunges while gold prices soar simultaneously.

The main reason is that paper currency tends to lose purchasing power, while gold units tend to rise compared with the other options available.

We recommend you to enter this site: https://www.investopedia.com/articles/basics/08/gold-strategies.asp to learn more about investing in precious metals.

As a result, you can use precious metals as protection against potential inflation, which will allow you to maintain their value, among other things.

At the same time, during the economic crisis, precious metal value tends to increase, which may provide you additional profit.

Remember that when prices increase, you will lose the value of paper money compared with other options, which is why you should always have a part of your investment in precious metals to protect yourself against potential problems that may happen.

How to find a supplier from China

Finding the right business partner for sourcing business can become quite a challenge. Importers need to spend a lot of time thoroughly checking the market, qualifications, and reliability of potential business partners. There are many ways of finding a supplier from China. The most popular ones are attending trade fairs in China and using e-commerce portals.

Searching for Chinese suppliers via a 3^rd party

The best way to look for good suppliers from China is to use the services of a specialized company. This may be the safest option to find a competent supplier. Such companies provide comprehensive services to entrepreneurs, making it much easier to contact suppliers who are interested in establishing new business relationships.

Searching for business partners at trade fairs

There are many ways to acquire a Chinese business partner. One of them is by attending trade fairs in China as a guest or exhibitor. Participation in such events allows you to meet potential contractors, establish interesting business contacts, and assess the products’ condition. Regardless of the business scope, every importer can find a trade event to visit or exhibit at. The vast majority of trade fairs organized in China accommodate foreign businesses, so completing the formalities related to travel and exhibition should not be a problem.

One of the main advantages is the opportunity to talk to potential partners face-to-face. You can exchange business cards and meet your competitors on the spot. The disadvantages may be the language barrier and the costs of traveling in China.

B2B platforms

Potential partners can also be found online on B2B (Business-to-Business) portals. They are a type of sites used for transactions between businesses. Using B2B platforms allows you to sell your products directly to other companies via the Internet, sites that are used for transactions between businesses. Using the Internet when looking for business partners makes life much easier. Everything is in English, which eliminates the major language block. There is a large selection of different companies and enterprises on the platforms, making it easier to find the partner we want.

The advantages are easier communication in English and the ability to search for and contact potential partners remotely. The disadvantage is the inability to talk face-to-face, especially since Chinese suppliers prefer face-to-face meetings.

Example platforms:

• Made in China is an e-commerce platform and a great tool for finding Chinese suppliers. We can get information about trade, products, and suppliers. It offers a variety of products, such as electronics, machinery, machine parts, lighting, and vehicles.
• Alibaba delivers products to over 200 countries around the world. It is the largest Chinese B2B e-commerce market. It offers a wide range of products, such as clothing and textiles, car parts, machines, furniture, accessories, and many others.
• DHgate connects Chinese suppliers with importers from around the world. It offers a wide range of small and medium-sized enterprise products, such as electronics, lighting, clothing, jewelry, and cosmetics.

What’s next?

If you have already found a supplier or potential business partner, make sure that the company is trustworthy. Companies can take pride in having various virtual badges proving their value. Don’t rely 100% on these badges. Even if a company has a Gold Supplier badge on Alibaba or a professional-looking English website, it doesn’t mean it’s trustworthy.

If you want to make sure that a given company is reliable, due diligence is a great method. You will receive a comprehensive report confirming the qualifications of a given company within a few days.

Quality control

Once you choose a Chinese supplier and sign a commercial contract, and the first batch of products is manufactured, you should carry out quality controls. To do this, you need to check whether the quality of the products meets your expectations and requirements. It is also worth checking whether the quantity of products matches the order.

The most important thing is to make sure that the documents and data are completed correctly and everything is in order. Sometimes, there were frauds where, when opening the cargo at the port, it turned out that the supplier had sent the wrong of subpar quality.

It is not worth saving on product quality checks. Such a procedure can protect your company against large losses if the goods turn out to be of poor quality, you will have to return them and incur huge losses. Such slip-ups could also significantly affect the company’s good name, and Chinese entrepreneurs pay a lot of attention to this. Losing the “face” of a company can sometimes have disastrous consequences, so it is always safe to have your products inspected.