Do you need to obtain commodities data charts? Then an API might be the perfect solution for you.
Commodities are raw materials used in the production of finished goods. They include agricultural items, mineral ores, and fossil fuels, to name a few. Commodities, as opposed to securities, which exist only as financial contracts, are true products that may be bought, sold, and traded in markets.
Commodity prices are constantly fluctuating as supply and demand move within an economy and throughout the world. A bad harvest in India may cause grain prices to rise, while rising Middle Eastern oil output may cause global oil prices to fall. Commodity investors strive to profit from changes in supply and demand or to reduce risk by diversifying their holdings across other asset classes.
Given this and having in mind how fast the world that surrounds commodity prices moves, it might be quite useful to have access to different charts that show you comparisons over time and between commodities. A chart is a graphical depiction of data that represents the data by symbols, such as bars in a bar chart, lines in a line chart, or slices in a pie chart. A chart can represent tabular numeric data, functions, or some types of quality structure, and it can convey several types of information.
Charts are frequently used to help people understand enormous amounts of data and the relationships between different portions of the data. They are frequently faster to read than raw data and are used in a broad range of areas and can be drawn by hand (typically on graph paper) or on a computer using a charting program. Certain styles of charts are more useful than others for presenting a certain data set.
So, to get these types of charts in a short period of time we advocate using an API, which is an interface that can provide you with information about any type of data you wish to study. This is used by a broad variety of websites for all kinds of purposes.
Where Can I Find This?
You’ll need to locate software that permits you to access the API once each hour to make advantage of this. There are many of them available online, but you should be cautious about which one you select because they do not all function in the same manner or produce the same effects.
To save time and money, we strongly advise you to utilize Commodities-API, one of the most advantageous commodity rate tools accessible. This API retrieves price information from over 15 credible data sources every minute, including banks and financial data.
To obtain the API with hourly pricing and use that data on charts, you must complete the following steps:
- You may create your own API key by visiting www.commodities-API.com.
- Look for the commodity and currency symbols you wish to utilize.
- Locate the product and money in the list using these symbols. Make the API call after you’ve decided on them.
- Find the most recent and up-to-date pricing. The website will provide you with an API in a number of computer languages that you may alter and use anyway you see appropriate.
- After you have the API, go to “charts” and pick how you want them to be displayed.
More Information About This Software
Commodities-API started as a simple, lightweight Open-Source API for current and historical commodities rates published by banks and stock exchanges. Our API can provide real-time commodity data with a 2 decimal point precision and a frequency of up to 60 seconds. Exchange rates for practically any commodity, Precious Metals, converting single currencies, Time-Series data, and volatility data are all available. Our API receives commodity pricing data from over 15 reputable data sources every minute. Among the sources are banks and financial data businesses.
Also published on Medium.