Would you love the opportunity to trade in the commodity market? Well, we will give you an alternative that will surely work for you. It is an API for commodity data. You will find it in this post if you want more information.
Commodities are those raw materials or consumer goods that have value and utility. They are usually generic products and are also characterized by their uniformity and by not having a clear differentiation between them. Commodities as raw materials have a series of common characteristics, regardless of where they are obtained or who their producer is. The prices of commodities are set in the global market; furthermore, they can be bought and sold anywhere in the world at the same price. There are 2 possible markets to invest in these products, one is spot and the other is futures, each with very different characteristics.
Commodities as raw materials are considered to have high volatility. This is traditionally around 30% per year. This means that over the course of a year the prices of commodities suffer an average price fluctuation of 30%. Assets with a higher risk are usually considered to also generate a higher return. The high volatility of commodities makes them an investment product with a high return capacity. The market value of commodities is influenced by various factors. Both factors are related to the raw material itself, and factors unrelated to it.
Since commodities are used as raw materials in the production of all kinds of products and services, they are highly attractive to all kinds of investors. Many investors use platforms such as Commodities-API to find out prices. It’s a tool designed for those who want to trade in the commodity market. And luckily for you, we’ll tell you more about it in this post!
Commodities-API, the best option for investors!
Commodities-API is an API, as its name suggests. It is, thus, an abbreviation for an application programming interface. These kinds of APIs provide businesses with enormous benefits since they enable them to offer new services, enhance existing ones, and solve issues by integrating pre-existing solutions into platforms rather than having to create new ones from scratch. In a nutshell, Commodities-API gathers data from the top commodity exchanges in the world and gives it to you in an easy-to-use format. You can see prices for a variety of goods, including lumber, rice, wheat, corn, oil, ethanol, and natural gas. With a frequency of up to 60 seconds and a precision of two decimal places, all commodity data is given in real-time.
In other words, you will get current prices and be able to evaluate the data to determine when is the greatest moment to invest with the aid of these tools.
We suggest doing the following to view commodities rates:
1. Start by visiting Commodities-API.com. This is the first step,
2. Create the API key. This is step 2.
3. Sign up using your data, then select a plan. Commodities-API now offers three plans: a no-cost version, a professional one, and a professional plus version. Look closely at the distinctions between them all.
4- After completing the aforementioned steps, select the commodity symbol and then decide in which legal tender you want to view your prices. There are 170 legal tenders at your disposal.
5. Receive the prices!
Also published on Medium.