Looking to get Shanghai daily and historical gold benchmark prices? The market in a city as important as Shanghai is too large and therefore, many times the information may not be true. If you use this precious metals API you will be able to get secure information!
Throughout human history, gold has been the ideal haven for long-term value and wealth, making it one of the most sought-after assets in the financial markets by governments, businesses, and investors. With rarity and scarcity being the most significant factors in favor of investors and savers, more than 95% of gold is utilized as an asset for investment and wealth storage. Just to give you an idea, if someone had invested 10,000 Chinese Yuan 50 years ago (1972), they would currently own more than 400000. That represents a 3900% profit. The price of gold has already increased by over 6% just this year. In conclusion, if your objective is long-term profit, investing in gold is a secure bet.
However, before buying gold it is important to take certain risks. Not all times are the best to buy gold. Obviously, an investor in Shanghai will prefer to buy gold at a cheaper price, to maximize the investment. But before you buy, you must first find out what the reference prices of this precious metal are.
The problem is that getting Shanghai daily and historical gold benchmark prices is not easy. This Chinese city is the second most populous in the world and although it has quality sources of information such as the Shanghai Gold Exchange, it also has poor quality sources. Therefore, we want to prevent them from giving false information, using Metals-API.
You have to use Metals-API to get Shanghai daily and historical gold benchmark prices
Numerous Chinese investors, traders, or anyone else interested in buying, selling, or exchanging metals (including gold) may now receive pricing instantaneously thanks to this portal. Metals like gold, uranium, lithium, steel, etc. will be visible to you. The London Metal Exchange (LME), the London Bullion Market Association (LMBA), and the New York Mercantile Exchange are some of the sources of this information (NYMEX).
Even the major metal exchanges in the city of Shanghai are available. Some examples are Shanghai Futures Exchange (SHFE), Shanghai International Energy Exchange (INE), or Shanghai Gold Exchange (SGE). Shanghai Gold Prices are updated once every 60 seconds with a precision of two decimal places.
How to get Shanghai gold prices utilizing Metals-API? It’s simple!
1. You must first visit www.metals-API.com. Ensure that you obtain the API Key.
2. The option to register and select a plan will then be available on the main screen. Remember that payment plans are paid once a year, not once a month. Also, while shanghai gold prices will be displayed in Chinese Yuan, plans are paid for in USD. Remember this!
3. Next, choose the symbols you need.
4. Make the API call once you have finished the previous steps.
Before finishing this post, we will tell you that you can use 4 programming languages to obtain Shanghai gold prices. Use whichever is easiest for you to use, JSON, C Language, PHP or Python.
Also published on Medium.