In the world of precious metals, it’s impossible to deny the importance of gold. Knowing its rates can be crucial to your investments, which is why we gathered the top 3 most popular APIs that can help you stay updated on everything you need.
When exposed to oxygen or most chemicals, gold is the least reactive metal and will not corrode, rust, or deteriorate. This means that it has an extremely long lifespan. As a consequence, it is appropriate for use in jewelry and high-status products where the value and brilliance must be preserved indefinitely.
Because of this, it is one of the world’s most valuable precious metals. In worldwide production, China occupies the first spot, with more than 360 tonnes produced in 2020. It was followed by Russia, with more than 330, and Australia, with more than 325.
Knowing the importance of gold rates, then you should understand how critical it is to stay updated on them every minute. For that, you can use an API, which is an interface that connects two computers or applications and allows them to communicate with each other. When you make an API call and ask for the price of gold in, for example, USD, the API will gather the information you need and give it to you almost instantly.
To get this type of technology, you’ll need to use a software that provides you with the API call. To give you the best experience possible, we gathered three of the most popular APIs for gold rates:
1. Metals-API
Metals-API is a piece of software that delivers reliable and up-to-date information on any precious metal in any currency. The free plan’s data is refreshed every hour and has an accuracy of two decimal points. In this case, you will also receive 50 API calls each month. When you sign up for an annual plan, you’ll get more API calls and data per minute.
Every minute, Metals-API receives data from over 15 reliable data sources. Banks and financial data providers are among them. As a result, you will receive highly precise pricing. Metals-API provides current market prices for precious metals such as gold, silver, aluminum, platinum, and palladium. The website’s data may be utilized in a variety of places, including spreadsheets, other websites, and mobile apps.
To obtain an API key, first go to www.metals-api.com and sign in. Then you select the metal you want, in this example gold, as well as the money you want. When you send the request, the API will provide the results in JSON format. You may then extract the API and utilize it as you wish.
2. Goldapi
Goldapi offers historical daily gold and silver prices dating back to 1968 (LBMA AM Fix rates in USD) as well as real-time gold and silver spot values in 169 currencies. Mobile/financial app developers, bullion dealers, wealth management businesses, and traders are the intended clientele. For Your Business, GoldAPI delivers 100% Real-Time & Historical Gold and Silver Spot Prices from FOREX and LBMA.
By using GoldAPI, you have immediate access to a live feed of precious metals spot prices via a single easy and free API, as well as 100% Real-Time Live Feed from FOREX, SAXO, OANDA and IDC Exchanges, live Metal Spot Prices in USD, AUD, CAD, EUR and other currencies, Historical LBMA AM Fix Gold & Silver Prices Since 1968, Real-Time Gold/Silver (XAU/XAG) Ratio, free plan up to 500 requests per month.
3. Xignite
Xignite, a leading provider of cloud-based market data management services, has announced major enhancements to its Market Data Cloud platform. The cloud-based platform provides access to real-time historical and benchmark financial data across all asset classes for easy integration into mobile, web, or corporate applications. The company will unveil its new services at the Inside Market Data Chicago 2013 conference.
It provides an on-demand platform for delivering reliable financial market data to enterprise applications, portals, and websites for more than 400 corporate clients worldwide, including Citi, GE Commercial Finance, ING, Marsh & McLennan, kaChing and Starbucks.
Also published on Medium.