Would you like to receive hourly platinum prices? If you are from Indonesia, you probably want to see them in your local currency. Fortunately for you, there is an amazing tool, which we will talk about next:
Platinum is a metal with a silvery, shiny gray color and whitish tones. It is a very malleable, ductile and resistant element, which does not oxidize in the air at any temperature, in addition, it has the capacity to absorb large volumes of hydrogen and retain it at regular temperatures. This metal can be found in its natural state and almost always appears together with other elements, which are known as those of the platinum group (ruthenium, rhodium, palladium, osmium and iridium).
The great resistance of platinum makes it an extremely useful element for human activities. Its most popular use or to which we are most accustomed is in fine jewelry. But the metal is also widely used to make crucibles, as a catalyst (an anti-pollution device), in dental crowns and as a compound for certain magnets, among other things.
Due to its gigantic population (270 million), Indonesia constantly requires platinum. This is because Platinum has the double status of precious metal, capable of becoming an investment, and industrial metal, with multiple applications in various sectors. Currently, platinum is suffering from a drop in its prices (-16% in the last 2 weeks), which makes it ideal for those who wish to buy.
We know this last fact thanks to Metals-API, the tool designed to be a kind of “alert” when it comes to metal prices.
Why Metals-API?
Metals-API is an “API”, that is, application programming interface. It refers to the set of structures that allow software components to communicate with each other. In this sense, Metals-API serves as a kind of bridge to connect us with other prestigious international companies and thus, inform us about prices of metals such as platinum in your case. To cite an example, the LME (London Metal Exchange), is one of the 16 sources that uses this service.
On the other hand, another important feature of Metals-API is the possibility to see the prices in your local currency. This is important, because not everyone is familiar with international currencies like the dollar, euro, or Chinese yuan. Like 170 other currencies, you will be able to see the palladium price in Indonesian rupiah.
For any problem, we recommend you communicate via virtual chat with the Metals-API advisors, in its website. They will help you with any doubt you have.
Also published on Medium.