Obtaining prices of XAUUSD is important for businesses and metal traders. Add this feature to your web with this metals API.
Businesses and people that trade metals like Gold tend to work with webs and apps that help them be up-to-date and in touch with any news that could affect them. Of course, the program they stick with is one that answers all of their doubts and queries. Hence, it is essential to work with a metals API that offers a 360 view of the metals market.
Today, we’ll be focusing on Gold and why detailing the price of XAUUSD is a must-have. Also, we’ll approach the price of gold and we’ll end with a brief description of one of the best precious metals API today.
The Price Of Gold
Like any other asset dependent on the law of supply and demand gold has a price that fluctuates depending on the market. This means where it is located and based on both geological and sociopolitical factors.
Although gold is one of the most stable assets in existence, defining a fixed price for this mineral is difficult; especially since it is present in different markets, and in each of them, the price of gold is regulated based on different criteria:
- Firstly, the official price of gold is the one set by the LBMA, the London market for the sale of physical gold. This is responsible for regulating its value twice a day.
- The price of gold on the stock market. It depends on the entire wholesale market that supports the gold business, and it fluctuates based on myriad macroeconomic factors.
- The price of its native obtaining is marked by its extraction and production directly as a mineral. It governs the price of gold as a commodity.
- Finally, the price of physical gold, in grams. Guidance for the purchase and sale of bullion (or coins), and intended for investment. It is commonly marketed to retail
Why XAUUSD?
For hundreds of years prior to the devaluation of the gold standard, the price of gold served as the economic foundation. The symbol for gold in the periodic table of elements is AU, and the price of the unit was quoted in US dollars, which is a standard measure of the value of gold around the world.
Therefore, the par XAU/USD tells traders how many US dollars are needed to buy one ounce of gold. In consequence, having this value on a web or app businesses or people interested in metals is essential. Luckily, Metals-API offers this and way more.
Metals-API
Metals-API provides accurate and authentic pricing details from all over the world. It will inform people about the XAUUSD of gold. Also, it offers complete flexibility in the currency choice of the users.
Additionally, this metal pricing API offers uniformity, privacy, and guidance. It has a support team capable to answer and resolve any bump on the way. Plus, it offers complete and extensive documentation that details all about the API.
Metals-API is the go-to application of important companies. Some of them are Barrick, Metex, and Mansour. You can be one of them by going here and getting your API key.
