Are you from Latin America? Would you like to receive updated gold prices in the currency of your country? Well look no further! In this informative article we will talk about that!
Gold is a deep yellow metal that has long served as a way of representing value in different civilizations, a characteristic that is still in force today. It is characterized by its high resistance to corrosion, its malleability, ductility and for being very bright. It is found in nature in the form of specks and nuggets, very often linked to other metals.
One of the most common applications for gold today is that which has to do with electronics. This is due, to a large extent, to the great electrical conduction capacity that metal has. This situation gave rise to some ventures consisting of trying to recycle electronic waste, trying to get hold of the amounts of gold found in these disused devices.
A few decades ago, world currencies were backed by gold (the gold standard), a practice that fell into disuse. However, it is still often used as a store of value, especially when there is inflation and low interest rates; for example, central banks often hold a fraction of their reserves in this metal. Also, given its constant increase in its prices, many investors buy gold as an investment.
Gold is a metal that does not stop growing, in fact, in the last 5 years, it grew by 54%. However, it also has its significant falls, as in this month (-8% in just days!). If we add to this the instability of some Latin American currencies and their inflation problems, the result is enormous difficulty in seeing the prices in the corresponding currencies. Luckily, Metals-API fixes this.
Try Metals-API!
Metals-API is an excellent tool for investors, traders, and anyone else interested in buying, selling, or trading metals. It allows you to get current worldwide market values for any metal, fast and efficiently (including the most famous metal, gold).
On the other hand, it also offers you the possibility to see the prices in more than 170 currencies from all over the world. If you’re wondering, the answer is yes. You will be able to see the prices in Peruvian soles, Argentine pesos, Brazilian reals, Chilean pesos, Paraguayan Guaraní, Mexican pesos, Ecuadorian dollars, among others.
The London Metal Exchange (LME), the world’s biggest exchange for industrial metals, is one of the sources of precise data used by this technology; as well as 15 other recognized sources. Thanks to this, you will be able to decide the appropriate moment to invest in the gold business.
Also published on Medium.