Try This API To Get Rhodium Rates In PHP

Are you looking for an API that provides you rhodium prices in PHP? you must read this article.

South Africa is the largest rhodium exporter, followed by Russia. The global yearly output is 30 tonnes. The price of rhodium fluctuates dramatically: in January, it costs USD 120.000, while in February, it rises to USD 18.250.

To be successful in this industry, you must keep an eye on rhodium prices. Paying attention to real-time pricing and fluctuation data will help you determine when the best moment to invest is. As a result, if you’re looking for a way to keep up with these rates in PHP, you should consider using an API.

How Does PHP Function?

PHP (Hypertext Preprocessor) is a basic computing language for creating dynamic websites. It was one of the first server-side computer languages to be integrated into HTML, allowing websites to add functionality without requiring data from separate files. Its popularity has grown over time as a consequence of ongoing upgrades that introduce additional features and expand its capabilities.

What Exactly Is An API?

A device that connects two computers or applications is known as an Application Programming Interface (API). This may be used to obtain any type of data. There are several sites and APIs to choose from, but keep in mind that not all of them operate or give the same information.

The unique API that use PHP code is Metals-API. It’s one of the most commonly used and comprehensive APIs for precious metals prices, to assist you in making better investment selections. Metal prices, both current and historical, will be presented. Price volatility data may also be used to investigate pricing fluctuations.

To obtain your API key, follow the steps below:

1. You may obtain an API key by visiting www.metals-API.com.
2. Look for the rhodium symbol in the website’s symbol collection (XRH).
3. Add these metal and currency symbols to the list before using the API. Furthermore, you may select from a choice of programming languages as well as prices such as historical and spot pricing.
4. Then and only then should you press the “Run” button.

The following information will be shown by the API:

// set API Endpoint and API key 
$endpoint = 'latest';
$access_key = 'API_KEY';

// Initialize CURL:
$ch = curl_init('https://metals-api.com/api/'.$endpoint.'?access_key='.$access_key.'');
curl_setopt($ch, CURLOPT_RETURNTRANSFER, true);

// Store the data:
$json = curl_exec($ch);
curl_close($ch);

// Decode JSON response:
$exchangeRates = json_decode($json, true);

// Access the exchange rate values, e.g. GBP:
echo $exchangeRates['rates']['GBP'];

Why Metals-API

Every day, a big number of developers, small businesses, and major companies visit Metals-API. Over 500 companies use this API, including Barrick Gold and Chainlink. They may use this tool to ascertain the current worldwide market value of any metal fast and conveniently.

Metals-API is the most dependable source for real-time precious metals rates since it receives data every minute from around 15 trusted data sources, such as financial institutions. It includes programming languages such as python, PHP, and JSON. It contains data on more than 170 commodities and currencies.