Did you know that you could keep your customers informed and updated with real life data? Access to use this commodities rates API!
A commodity is a fundamental good that is interchangeable with other commodities of the same sort in commerce. Commodities are frequently utilized as raw materials in the manufacture of other items or services. Commodities can be purchased and sold directly in the spot (cash) market or through derivatives such as futures and options. Commodities are recommended as a hedge against inflation in a bigger portfolio.
A product is indeed a basic good for use in trade that may be changed for other similar products. Commodities are frequently utilized as raw materials in the manufacture of other items or services. The condition of a particular product may vary slightly from producer to producer, but it is generally consistent. Commodities must also fulfill set minimum requirements, commonly known as a base grade, when they have been traded on an exchange.
The primary premise is that there is little difference between a product produced by one producer and a commodity produced by another. Regardless of the manufacturer, a barrel of oil is essentially the same commodity. In the case of electronics, however, the quality and features of a particular product might vary greatly depending on the manufacturer.
Grain, meat, oil, and natural gas are examples of classic commodities. Financial goods, such as foreign currencies and indices, have lately been included to the term. New sorts of commodities are being traded in the marketplace as a result of technological advancements. Consider minutes and bandwidth on a cell phone.
Many financial markets are extremely liquid, with a large daily range and volatility, making them particularly appealing to intraday traders. As a result, many traders rely on online platforms to provide their clients with up-to-date exchange data for a variety of currencies and commodities, an example of this it´s Commodities-API.
What Is Commodities-API?
Commodities-API is a free and open website that uses an API to get real-time data on up to 170 different items on the market in various currencies like wheat, corn, sugar, coffee, among others goods.
How Does It Work?
It’s really easy to get started on the website for the first time; simply follow these instructions:
– Create an account on the website.
– Get an API key
– Choose your preferred currency and commodity
– Make an API request and wait for a response from the system to retrieve the choices you chose.
Is A Secure Site?
This API pulls commodity pricing data from over 15 credible data sources per minute. Banks and financial data companies are among the sources. They additionally safeguard your connection with bank-grade 256-bit SSL encryption. Commodities-API is used by thousands of developers, small businesses, and huge corporations on a daily basis. Because of its reputable data sources and more than six years of expertise, this API is the most popular site for commodity rates.
Does It Provide Reliable Data?
The service is run by receiving data from financial institutions every 60 seconds and working with two decimal places of accuracy. In turn, data and measurements from earlier days, weeks, months, and years may be accessed in order to get a superior market position while investing.