Are you looking for palladium spot rates but don’t seem to find them? Then try using this API.
Palladium is a shining, silvery-white, corrosion-resistant metal that is mostly utilized in car catalytic converters. It may also be found in jewelry as well as various dental fillings and crowns, such as white gold, which is a gold alloy that has been decolored by alloying it with another metal, most often palladium.
Is also appreciated for the monetary benefits it offers as wealth storage as well as its investment possibilities. Palladium investments might present some of the most rewarding changes in the precious metals complex in the coming years.
So, if you want to invest in this type of metal, you should know how important it is to stay updated on different types of rates, such as real-time, historical, and spot prices. Here, we will focus on the last ones. Spot rates are the prices of commodities futures contracts. This is due to the fact that shares are always traded at the current price. They allow you to have a better knowledge of the business and estimate what will happen with that specific product in the future.
How To Get Palladium Spot Rates
To get this type of price it’s highly recommended that you use an API. This is an interface that collects data from a place and then provides it to the person who made the request for that information. A lot of websites use this kind of technology for different purposes. If you want to use it for getting precious metals rates, you need to find a software that offers this type of information.
There are a lot of those online, but you have to be careful with which one you can use since not all of them work the same way. Choosing wrong can make you lose a lot of money and time. For this example and to show you better how this works, we will use Metals-API, one of the most complete ones available.
To get the information, you have to:
1. Go to www.metals-API.com and sign up to obtain your personal API key.
2. Look for the palladium symbol and the currency you desire to obtain the information on.
3. Locate the metal and money in the list using these symbols, then choose the period of time you want. Make the API call after you’ve decided on them.
4. The website will deliver an API in a variety of programming languages that you may modify and use any way you see fit.
This information is shown in various programming languages, the main one being JSON. The answer will look something like this:
{
"success": true,
"timestamp": 1519296206,
"base": "EUR",
"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,
[...]
}
}
Is This Information Accurate?
Every minute, Metals-API receives data from over 15 credible data sources. Banks and financial data providers are among them. As a result, you will receive incredibly precise pricing. This software calculates the market value of the world’s most precious metals, including gold, silver, aluminum, platinum, and palladium. The website’s data may be utilized in a variety of places, including spreadsheets, other websites, and mobile apps.
Also published on Medium.