Diversify investments and get to know the satellite markets of the larger producing countries with this API.
Satellite Markets
Satellite markets can help you determine how much is being produced in a certain country. The closer that the satellite market is to the place of origin, the more possible it will be influenced by the price and availability of the main market. It is important to know the satellite markets of the larger producing countries because they are a place where many smaller companies come to sell their products. Suppliers that would not normally be accepted by large superstore chains can sell their products here. This allows them to make money, produce more and in turn allows you to buy their product. It also gives the farmers a chance to network with suppliers and create better business relationships.
A good way to make money is to diversify investments and get to know the satellite markets of the larger producing countries.So, knowing their rate changes in different precious metals could be ahead of the changes in the rest of the world.
Not all Metals APIs have different metals and all rates available from the Americas and the world. The only free & paid API that does it is Metals-API. It is not only the most used in countries such as India and Russia, of the largest producers of precious metals but also in parts of America.
STEP 1: GET YOUR METALS-API API KEY
- Go to https://metals-api.com/ and press GET API KEY in the top right corner
- They have a range of plans, but we’ll begin with the free one for this instance. Select Get API Key from the drop-down menu.
- You’ll be required to create an account, after which you’ll get a verification email. You will be driven to the most recent Metals-API dashboard when you click on the email to check your account. Click the ‘Dashboard’ button in the left-hand sidebar.
- Your API access key should now be visible to you. Make a copy of it and safely store it; we’ll need it later. The Metals API is now available to you.
STEP 2: CREATE YOUR API REQUEST
There are 5 main API Endpoints through which you can access different kinds of data, all starting out with this Base URL:
Simply attach your unique Access Key to one of the endpoints as a query parameter:
- API root: https://metals-api.com/api
- Endpoint: /latest
- Query strings: ?base=USD&symbols=XAU,XAG&access_key=YOUR_ACCESS_KEY
When we bring it all together, we get the full API Request URL:https://metals-api.com/api/latest?base=USD&symbols=XAU,XAG&access_key=YOUR_ACCESS_KEY
- Latest rates endpoint: Returns real-time exchange rate data for all available or a specific set of currencies.
- Convert endpoint: This allows you to convert any number from one currency to another.
- Historical rates endpoint: Returns historical exchange rate data for all available currencies or a selection of them.
- Time-Series data endpoint: Returns daily historical exchange rate data between two specified dates for all available or a specific set of currencies.
- Fluctuation data endpoint: Returns fluctuation data between two specified dates for all available or a specific set of currencies.
READ MORE:
Get Hourly Lead Prices With This Metals API – TheStartupFounder.com
Also published on Medium.