Do you want to invest in gold and do not know how to do it? In this article we tell you how to do it just by using a precious metals API!
To begin, let´s talk about gold, which is one of purest form, it is a brilliant, somewhat orange-yellow metal that is dense, soft, malleable, and ductile. Gold is a transition metal and a member of group 11 of the periodic table. It’s one of the least reactive chemical elements, and it’s solid at room temperature.
Gold is known as a heavy metal due to its great density, which stems from the fact that each of its atoms is extremely heavy on its own. Tungsten has a similar density as gold, but it is harder and brittle due to its firmly connected atoms, which make it difficult to drive them past each other.
The London Bullion Market Association (LBMA) is the world’s authority on precious metals. We’re the organization that sets the standards for how precious metals are refined and sold across the world. It is our responsibility to assure the quality and integrity of both the metal and the market participants.
The London Bullion Market Association (LBMA) Gold Price and London Bullion Market Association (LBMA) Silver Price are the worldwide benchmark pricing for unallocated gold and silver supplied in London. Under the EU Benchmarks Regulation, both gold and silver prices are regulated commodities benchmarks. ICE Benchmark Administration is in charge of the prices.
Through consultation with its Regulatory Affairs Committees, aggressive advocacy activities, and partnerships with regulatory authorities and law enforcement, the LBMA aids its members and the larger industry in complying with these applicable laws. Therefore, in order to maintain stable and controlled regulation and not be at the mercy of gold movements in the market, many gold traders use the Metals-API platform to keep up to date with monetary data.
What Is Metals-API?
It’s a simple feature that lets you see historical and current precious metals prices from banks. The Metals-API is built on a solid backend architecture and can provide precious metals exchange rates, single currency conversions, as well as Time-Series and Fluctuation data.
How Can You Get An Account?
Metals-API It’s quite easy to use. All you have to do now is follow the instructions below:
- Create an account and generate an API Key; this code must be kept secret because it is needed to make an API request.
- Select a desired currency and metal.
- You can make an API request from the dashboard, and the app will respond with an API response, and you’re ready to go!
Where Does The Information Come From?
The Metals-API site’s API gathers data on commodity and currency values from more than 15 credible data sources every minute. Banks and financial data businesses, as well as the European Bank itself, are among the sources.
Is It Secure?
The Metals-API website is protected by 256-bit SSL encryption. This sort of encrypted communication is commonly used by financial institutions. The 256-bit SSL encryption security level encrypts and decrypts data sent between the user’s browser and the website server using a 256-bit long encryption key. It was formerly thought to be the most secure option.