The best way to keep abreast of the ever-changing gold market is to control it through the best-known currency in the world, the dollar, with simultaneous updates, for that there are different APIs that allow you to know the changes every 60 minutes and even sixty seconds.
Money and gold are two currencies that were born together, at first you received a certificate that communicated the amount of gold you had stored either in the bank or any entity that functioned as a vault at that time.
Over time paper money replaced gold in what means clear and basic value for the exchange of products, however, it continues to be one of the most recognized and solid metals in the market, with its falls being much less frequent than its rises and with the dollar being the best-known currency in the world, its recognition as a whole is necessary for any investor.
While it is the law of investors that you have to diversify investments, that is to say, put your money in different places, so gold may not be the only metal in your portfolio, if you want to know the price of silver, platinum, or any other type of precious metal, in any type of currency, one of the most widely used API is Metals-API.
Every day, thousands of developers, small businesses, and large corporations use Metals-API Because of its robust data sources and 6+ years of experience, Metals-API is the most trustworthy source for real-time precious metals rate.
Metals-API provides API access to live market data of precious metals with a 2 decimal point precision and a 60-second refresh rate.
To ensure the best possible degree of data coverage and accuracy, our system employs a unique “validation and fallback” mechanism, assigning different priorities to each data source and validating each metal/forex rate as it enters our databases. If one source does not provide an accurate quote, the next highest provider for this currency pair is contacted. This enables us to eliminate inconsistencies and provide the vast majority of spot exchange rates with six decimal places of precision.
Metals-API collects market data prices in a variety of formats and frequencies from a variety of trading sources and institutions around the world. Commercial sources are given a higher weighting because they more accurately reflect market exchange, particularly for major currencies and metals.
Metals API Drupal Module and WordPress Plugin
Metals-API Drupal module provides extensive settings for displaying preferred date metal rates as well as the most recent. This free license is all you need if you merely want a daily snapshot of precious metal prices. The rate can be refreshed once a day (every 24 hours) by the Drupal module, and it will fall inside the free license’s limit of 50 requests per month. Additional daily refreshes will necessitate the purchase of a paid license, which may be obtained for a reasonable price. You can also try Metals-API WordPress Plugin which consumes, caches, and produces blocks to display precious metal prices.
Also published on Medium.