Do you want to know the updated rates of metals? If so, you are in luck! Here is how to do it by using an API!
Nowadays, investors who want to diversify their portfolios; or who simply want to add some stability by protecting their savings from inflation frequently purchase precious metals, like gold or silver bullion. Many buy these to store their wealth because it’s a liquid asset that’s easily tradable; and exchangeable for cash whenever they need it. In fact, you can buy or sell physical bars or coins from your local coin shop or online through a variety of dealers.
However, the rate of these precious metals varies daily depending on a number of variables; such as the state of the economy, supply and demand, and politics. As you may know, the precious metals rate is the price of precious metals — primarily gold and silver — per ounce or gram. The precious metals rate is often quoted by financial news networks such as CNBC as an indicator of inflation-adjusted currency value.
Therefore, if you are considering to invest in any precious metal any time soon; it will get difficult to manually track all those rate movements as the current price of precious metals fluctuates constantly. Fortunately for you, you can use a metal prices API to know the updated rate of metals at any time. .
Why Should You Use A Metal Prices API?
A metal prices API gives you all the knowledge you need about any kind of precious metals; ranging from the most common, such as gold and silve, to the most uncommon ones like Rhenium. How does it do it? well, because an application programming interface (API) allows two systems to communicate with each other to request and retrieve specific data. The information it retrieves usually comes from trustworthy sources
Hence, an API is the most effective way to obtain updated data about precious metals because it operates quickly, provides accurate and reliable results, and allows you to save time and money; since you won’t be searching this information by yourself
When using a metal prices API, you must ensure that the data it offers is accurate and derived from reliable sources. For this reason, we advise using a trustworthy API that has been available for more than six years: Metals-API.
Numerous developers, small as well as medium-sized businesses, and large corporations use this JSON-format API. Metals-API provides real-time and historical precious metals rates. Because of its trustworthy data providers, which include more than 15 sources, this API offers the best source for information on precious metals rates.
How To Receive Updated Rates Of Metals With This API
1. Register and get your very own API key by creating an account on https://metals-api.com/ .
2. Look for the currency sign (e.g. it could be Euro, USD, Japanese Yen, etc.) and the metal symbol you wish to know about (e.g., it could be Gold, Silver, Alluminum, etc.)
3. By using the symbols above, add metal and currency to the API request structure. You can also specify the programming language and price range at this point.
4. To end the call, click Run. And that’s all you have to do, the rest is up to Metals-API. In seconds, you’ll receive the updated information you were looking for!
Related post: Use A JSON API To Get Delhi Gold Rates Easily
Also published on Medium.