Are you looking for a historical commodities prices API? If the answer is yes, keep reading! Here are 3 of the best APIs available today!
Commodities are raw materials that are used to produce other goods. These products can be traded on the commodities market; and are often used as a hedge against inflation or economic downturns. However, like any other commodity, their price fluctuates due to various factors. This is why, for anyone interested in investing or trading commodities, it is necessary to keep track on these changes; and the best way to do this is through an API.
Commodities prices APIs can be quite useful for investors and traders; but developers benefit from them as well. These APIs give them access to a wide range of current and past financial data; allowing them to design their own commodity trading software.
Although numerous websites track commodities prices; some of them do not provide the price information in a machine-readable form. That is why, as a developer, you may want to incorporate commodities such as stock quotes, oil prices and metal prices into your website. By offering the ability to obtain real-time and historical commodity data; a commodities prices API shortens the time required for development.
Which Are The Three Best Historical Commodities Prices APIs Today?
So, the best way to stay updated with what is happening in the commodity market; as well as to enhance your own project, is to obtain historical commodities prices through an API. This will allow you to keep track of market volatility; make great financial decisions, be well-informed about what is happening in the world of commodities; and, if you are a developer, enhance your own website or application!
There are many different API’s that offer historical commodities prices but not all of them are reliable or even cost-effective. To help you decide which API you should use, we have gathered information on the three best historical commodities prices APIs available today for developers! Check them out:
Commodities-API
The pricing of many commodities, including wheat, rice, coffee, and sugar, is shown using Commodities-API, a reputable and well-known open API. It quickly compiles price information from more than 15 reliable data sources; including banks and other financial institutions, and provides it to you.
Furthermore, Commodities-API provides data in over 170 currencies with a two-decimal place accuracy. Depending on the subscription you choose; you can receive data updates every 60 seconds and send up to 100.000 API queries every month.
What’s more, because it uses bank-level security, is also a rather safe API to use. As a result, the top-notch 256-bit SSL encryption will protect your connection to Commodities-API.
Open Exchange Rates’ API
A portable, secure, and straightforward API is offered by Open Exchange Rates; which also offers exchange rates for more than 150 different foreign currencies. The information was collected from multiple reliable sources; and then merged algorithmically to ensure fairness and objectivity.
Open Exchange Rates API makes exchange forms available by assembling data from various trustworthy sources; the data is then offered to all users in JSON format before being made public. Further enhancing the security of your connection to this API is high-level encryption.
Financial Data API from Nasdaq Data Link
Another well-known website to find financial, economic, and alternative datasets is Nasdaq Data Link. A Financial Data API is one of the many financial data APIs that are available. You will have access to about 100 different commodities, including the prices of gold, silver, and oil, with this API at your disposal.
Additionally, this simple API gives you access to historical commodity prices as well as daily spot pricing. With its array of software tools, including R and Python, Nasdaq Data Link is without a doubt one of the easiest ways to search for and download commodity prices.
Related post: How To Get Live And Historical Coal Rates Using An API
Also published on Medium.