We think that you can analyze current prices with the help of this API. With it, you can evaluate the rising metals market and make your best considerations to trade.
We experienced significant changes in 2022. Such as the Russian invasion of Ukraine. On the other side, the US Federal Reserve’s quickest cycle of interest rate increases in a decade. The global economy will continue to tread a thin line between developed nations approaching recession and developing economies striving to solidify their recoveries in 2023.
Many precious metals investors ponder whether there are other forms of investment than gold. They do so since many people rely on these assets to maintain their savings. Today they advise investing in lesser-known metals, such as platinum.
The hydrogen economy is gaining steam, particularly in particular the technologies that produce green hydrogen from renewable power. So much so that it could meet up to 25% of the world’s energy requirements and become a $10 trillion industry by 2050. So it’s clear how green hydrogen initiatives would affect global demand for platinum long-term.
2022 Balance
As 2022 winds down, numerous large investment banks have revealed their forecast for 2023. There they look at which metals will rise or fall next year. With growing recession fears in advanced economies and anticipation of a Chinese economic rebound following the Covid lockdowns, 2023 is expected to be a pivotal year for metals.
Over the next year, investor attention will focus on the US Federal Reserve, as well as other major central banks such as the Bank of England and the European Central Bank. These banks will adjust and increase interest rates to control inflation.
Precious metals with strong industrial and jewelry ties to the nation, like silver and gold, are expected to continue to be significantly impacted by this. This analysis estimates that China consumed 675 metric tons of gold jewelry or nearly 56% of global consumption.
According to this research, China also consumed around 3,400 metric tons of silver. In the manufacture of solar panels as well as other sectors like jewelry, photography, and electronics proffesionals use this metal.
The forecast for gold and silver may be a little more dovish in 2019 due to China’s poor economic outlook. Even base metal prices, like copper and iron ore, are likely to fall since China’s real estate market hasn’t fully recovered. The Australian dollar (AUD) will influence the demand for these metals in 2023. China imports a significant amount of copper and iron ore from Australia.
Use An API
Seeing all this, you must have the best tools to invest in the precious metals market. Here we want to recommend a programming interface (API) that will allow you to update all the data related to this industry in real-time.
Specifically, Metals-API has current price information for hundreds of metals around the world in the currency of your choice. You can also make different comparisons to assess the general behavior of the market. A type of response that the API gives would be like this:
About Metals-API
Metals-API is one of the most important APIs found online. It’s because the number of facilities it provides to programmers and investment companies. On the one hand, it works in various programming languages. You can integrate the API response in your favourite one!
On the other hand, customers will feel very confident about your online content since you will provide a lot of data and important factors that influence the behavior of the mining activity.