Looking to find somewhere the rates offered by the Shanghai Gold Exchange (SGE)? Well, today you are lucky, before the end of the year 2022, you will know the answer. But in short, it will be this Shanghai gold exchange prices API, the service that will provide you with the rates you are looking for!
Gold is a metal that is present in the earth’s crust but in small quantities. It is very famous for its yellowish and bright hue and it manages to be preserved without undergoing changes thanks to chemical reagents. In addition, we must highlight its excellent thermal and electrical conductivity, it is even a flexible and very malleable metal. All these characteristics together make gold a widely used and valued metal not only in China but also throughout the world.
Currently, gold is very important for the asian country. In fact, the Chinese government acknowledged that it has been secretly hoarding gold. Stealthily, it has almost doubled its previous reserve, increasing its reserves by millions of tons. Keep in mind that China is the country with the largest foreign currency reserves: a total of US$2 trillion. Of these, two-thirds are in dollars. But the Asian giant has shown signs of moving away from this currency. China’s goal is to reduce its dependence on the US dollar and so it is buying a lot of gold.
And this also includes its citizens who are buying more and more gold. One of the most used metal exchanges by Chinese citizens is the Shanghai gold exchange or better known only by the acronym SGE. For this reason, many Chinese look for tools that allow them to obtain the prices of that source of information. Fortunately, Metals – API offers what millions of Chinese are looking for, Shanghai gold exchange prices!
Get SGE Rates Through Metals-API in 2023!
Metals – API is the most famous and trusted API for checking gold prices from Shanghai Gold Exchange. Not only is this metal exchange used as a source of information, but it is also associated with the London Metal Exchange (LME). These prestigious sources will guarantee the total accuracy and veracity of the information. And do not worry about the exchange rate, because if you are Chinese, you can be 100% sure that you will receive the prices in Chinese yuan. Although you will have to specify it yourself since the currency used by default is USD. To change it, you just have to replace USD with the Chinese yuan symbol. The symbol is CNY.
Another positive feature of Metals – API is that you will be able to analyze information from the past. As you surely know, gold suffered falls and falls depending on the economic moment, not only should you be updated with the latest news, but you should also know the past. For this, this platform offers you prices of up to 19 years in the past, which will help you create charts to analyze and draw better conclusions. All this, using the latest technology, which will allow you to receive the latest updated prices at the time you want.
If after reading this post, you still have doubts about it, the best thing you could do is contact the customer service team. There is no doubt that they cannot solve! Utilize this Shanghai gold exchange prices API!