Do you want to obtain accurate rhodium spot rates? Then use an API!
Rhodium is a silvery-white metal that is extremely reflective and corrosion resistant. It is the world’s rarest and most valuable precious metal, far exceeding gold and silver. Rhodium gets its name from the Greek word “rhodon,” which means “rose,” and is called by the rose-red hue of its salts.
The worldwide supply of rhodium is estimated to be at 748,000 ounces. In 2021, South Africa is expected to produce 624,000 ounces of it, making it the world’s largest rhodium producer. Platinum group metals (PGM) miners see a bright future for rhodium as big nations such as China and India tighten emissions regulations.
According to Chemistry Libretexts, rhodium is the most uncommon of the platinum group, occuring in the Earth’s crust at a rate of one part per 200 million. Rhodium has a lower density than platinum and a higher melting point and is unaffected by air and water up to 1,112 degrees Fahrenheit (600 degrees Celsius).
It may be difficult to keep up with such a fast pace in which the industry moves. However, it is not impossible. For this, we strongly suggest using an API. This is an interface that provides you data from all over the internet and can bring you rhodium rates in USD in just a few seconds. It’s extremely easy to use and it is employed by many different websites every day.
Where To Find This
APIs for metal prices can be found all over the internet, since it’s something extremely used. You should hunt for a good software that offers this service before choosing one randomly. Yes, many of them are available on the internet, but not all of them can provide the same information. As a result, you must exercise caution in your decision-making to avoid wasting your time with bad software.
As a result, we strongly advise you to utilize Metals-API, which is now one of the most popular and comprehensive APIs for precious metal values. This program may supply you with a large number of metals and currencies from which to choose and include into your website.
You must perform the following to make advantage of it:
- You may generate your own API key at www.metals-API.com.
- Look for the Rhodium symbol (RH) and the currency you want to use.
- Use these symbols to add metal and money to the list before finishing the API call. In addition, you may select a programming language and a pricing range.
- After that, you just press the “run” button, and you’re done! On your screen, the API will be presented.
This is how the final product will look:
{
"success": true,
"timestamp": 1519296206,
"base": "RH",
"date": "2018-09-10",
"rates": {
"AUD": 1.566015,
"CAD": 1.560132,
"CHF": 1.154727,
"CNY": 7.827874,
"GBP": 0.882047,
"JPY": 132.360679,
"USD": 1.23396,
[...]
}
}
About Metals-API
Metals-API began as a basic, lightweight Open-Source API allowing banks to give current and historical precious metals pricing. Through the Metals-API API, you can get real-time precious metals data with a precision of 2 decimal points and a frequency of up to 60 seconds. All of these features include supplying precious metals exchange rates, converting single currencies, delivering Time-Series data, fluctuation data, and the day’s lowest and highest price. The Metals-API API can provide precise precious metal exchange rates in 170 different world currencies, including Bitcoin and other major cryptocurrencies.
Also published on Medium.