Are you looking for an API for historical commodities prices? If the answer is yes, you are in luck! Here are three APIs you can use today!
It is no surprise that commodities are attractive investments since they are materials that will always be required; and whose demand will only rise as civil society develops. However, because of the ongoing change in their market; it is imperative to stay current on all new innovations. By conducting manual research on several exchange market websites, one may keep tabs on this. But this approach is time- and labor-intensive. Not to mention that it’s simple to make mistakes because prices are always changing.
Fortunately, there is another approach that significantly simplifies research. This one uses cutting-edge technology and artificial intelligence to quickly; and accurately keep track of the pricing of various commodities. We are talking about an API for historical commodities prices!
Why Should You Use An API For Historical Commodities Prices, And Which One Should You Use
The main advantage of getting historical commodity prices is that you can stay updated on what is happening in the market; and make great financial decisions. You can also keep track of market volatility and make sure that your business remains profitable. If you want to make sure that you are well-informed about what is happening in the market, then it is very important for you to obtain historical commodities prices from reliable sources like an API provider.
But not all of the APIs that are currently widely accessible are secure or dependable. This is because they could come from questionable API suppliers. This is why we’ve gathered details on three of the best APIs you can use today to obtain historical commodities prices!
Commodities-API
The prices of a number of commodities, including wheat, rice, coffee, and sugar, are shown using Commodities-API; a well-known and reputable open API. It compiles price information from over 15 reliable data sources; such as banks and other financial institutions, and provides it to you in a couple of seconds.
Commodities-API additionally offers data with a two-decimal point precision in more than 170 different currencies; as well as historical commodity data. Depending on the subscription you choose, you can also send up to 100.000 API queries each month and receive data updates every 60 seconds.
Moreover, as it uses bank-level security; is a rather safe API to use. Consequently, the best 256-bit SSL encryption will be used to protect your connection to Commodities-API.
Financial Data API provided by Nasdaq Data Link
Another popular website that is ideal for discovering financial, economic; and alternative statistics is Nasdaq Data Link. It provides a number of financial data APIs, including one for commodity prices. You will have access to the prices of about 100 different commodities through this API, including metals, and oil.
Through this simple API, you will also have access to historical commodity prices as well as daily spot prices. Without a doubt, Nasdaq Data Link, which offers a number of software tools, including R and Python, is one of the simplest ways to search for and download commodity prices.
Barchart’s Commodity Data APIs
Barchart is a financial website that has been accessible for a while. This service was one of the first to provide information on commodities and futures markets. It is provided by a global banking software company; that also offers market data and services to the commodities and financial media sectors.
The diverse customer base of Barchart is fully supported by the firm’s exclusive data, software, and technological solutions. Additionally, its entertainment businesses offer web content, headlines, and magazines to aid in the decision-making of market and financial experts.
Related post: How To Get Live And Historical Coal Rates Using An API
Also published on Medium.