Are you looking for an API for obtaining commodities spot prices in 2023? If so, you are in luck! Here are the top three most useful APIs in 2023!
Commodities, as you may imagine, are attractive investments since they are materials that will always be required; and whose demand will only rise as civil society develops. However, because of the ongoing change in their market; it is imperative to stay current on all new innovations. By conducting manual research on several exchange market websites, one may keep tabs on this. But this approach is time- and labor-intensive. Not to mention that it’s simple to make mistakes because prices are always changing.
Fortunately, there is another approach that significantly simplifies research. This one uses cutting-edge technology and artificial intelligence to quickly and accurately determine the prices of various commodities. We are talking about an API for commodities prices!
Where Can I Find The Best Commodities Spot Prices API In 2023?
Using an API for commodity prices is the quickest and most straightforward approach to immediately find correct prices from trustworthy sources. This tool gathers information on commodities from reliable sources and quickly transfers it to your software.
However, not all of the APIs that are readily available today are safe or reliable. This is because they can originate from dubious API vendors! So, we’ve compiled details on three of the top commodities spot prices APIs currently on the market to assist you in making a trustworthy API choice:
1. Commodities-API
Commodities-API, a well-known and dependable open API, is used to display the pricing of several commodities; including wheat, rice, coffee, and sugar. It gathers price data from more than 15 trustworthy data sources; including banks and other financial institutions, and gives it to you in a matter of seconds.
Additionally, Commodities-API provides data in more than 170 different currencies with an accuracy of two decimal points. Furthermore, you can send up to 100.000 API requests per month; and you can get data updates every 60 seconds, depending on the subscription you choose. Also, is a pretty safe API to use because it makes use of bank-level security. Thus, your connection to Commodities-API will be secured with top-notch 256-bit SSL encryption.
2. CommonPrices API
Another web-based service that makes it simple to obtain the values of more than 10,000 different commodities and indices is called CommonPrices API. This API efficiently gathers data from a variety of reliable sources and refreshes it daily, weekly, or monthly depending on the plan you select.
To make this API more useful and compatible with your projects, it is now provided in JSON data format. Furthermore, HTTPS is used to encrypt interactions between your browser and their servers, ensuring accuracy and safety, making CommonPrices API a relatively secure application.
3. Open Exchange Rates API
With exchange rates available for more than 150 different currencies worldwide, Open Exchange Rates offers a transportable, secure, and simple API. The information is obtained from a number of reliable sources; blended algorithmically to ensure fairness and objectivity.
The exchange forms that are made accessible through Open Exchange Rates API are compiled using information from multiple trustworthy sources; it is then supplied in JSON format to all users before being made public. Additionally, it makes advantage of high-level encryption to guarantee the security of your connection with this API.
Related post: How An API Can Give You Open And Close Commodity Rates Of An Specific Day