Are you a programmer? Did you know you could get Metal Data? Do it through a metal prices!
Precious metals are metals that are scarce and have a high economic value. Due to their economic worth, industrial applications, capacity to act as a hedge against currency inflation, and long history as a store of wealth, this is the case. The precious metals that investors are most drawn to are gold, platinum, and silver.
Metal ores are typically mined, beneficiated, and processed in order to obtain metal. The cost of production and, consequently, the price of metals are influenced by mining considerations. It is necessary to consider whether the metal is mined as a primary product, byproduct, or coproduct.
According to some economists, buying precious metals offers a distinct form of inflation insurance. They have inherent worth, are immune to inflation, and carry no credit risk. You cannot print any more of them as a result. They also offer actual defense against monetary, political, or military crises.
From the standpoint of investing theory, precious metals also offer a low or negative correlation to other asset classes, such as equities and bonds. As a result, there will be less volatility and risk in a portfolio that holds even a little proportion of precious metals.
Historically, investors have valued precious metals as rare commodities. There are other precious metals outside just gold, silver, and platinum. Investing in them is risky due to their low liquidity and practical application. There are platforms that provide economists, those interested in investment, programmers, among others, to obtain precious metal price data, including: Metals-API.
What Is Metals-API?
The original version of Metals-API was a straightforward, lightweight Open-Source API for banks’ current and historical precious metals prices. The Metals-API API may deliver real-time precious metals data through API at a frequency as high as every 60 seconds, with an accuracy of two decimal places.
Providing exchange rates for precious metals, currency conversions, time-series data, volatility statistics, and the lowest and highest prices of any particular day are a few of the features.
How Does It Work?
Metals-API It is simple to use. Now all you have to do is adhere to the guidelines listed below:
- Create a profile.
- Produce an API Key
- Choose the desired metal and currency.
- Make an API Request, then wait for the system to respond with an API.
Is The Website Secure?
Banks and financial information providers, such as the European Central Bank, are where Metals-API gets its currency data from. Bank-grade 256-bit SSL encryption is used to encrypt your connection to the Metals-API API. Data or files are encrypted and decrypted using the 256-bit encryption method. After 128-bit and 192-bit encryption, it is the third-strongest encryption method employed by the majority of contemporary encryption algorithms, protocols, and technologies.
Does The Platform Provide Currency Endpoint Conversions?
In addition to live data, the Metals-API includes other endpoints for time series data, currency conversion, and gold karats. The same API endpoints can convert any amount between currencies and metals, as well as any amount between any two currencies and any metal.