Do you want to try an API that can provide LME Historical Rates and give you metal prices? You should try Metals-API.
We should begin by explaining what exactly precious metals are before I move into the specifics of buying gold and silver.
The chemical elements known as precious metals are part of a rare group of metals that are valued for their catalytic capabilities, which allow them to speed up and slow down chemical reactions.
These metals have a high economic value and are resistant to corrosion and oxidation.
Precious metals have historically been employed as a form of payment, although today they are more commonly thought of as investment vehicles or industrial raw materials.
The term “precious metal” has been around since at least the end of the 14th century, though it may have slightly different connotations depending on the context.
Prior to the publication of Mendeleev’s first widely accepted periodic table in 1869, in 1864 William Odling published a table in which the “precious metals” rhodium, ruthenium, palladium, platinum, and iridium were grouped together and were close to silver and gold.
These are the different types of precious metals:
Gold
Silver
Members of the platinum group ruthenium, rhodium, palladium, osmium, iridium, and platinum
Aluminum was once regarded as a precious metal, despite the fact that it is one of the most prevalent chemical elements on Earth. This was as a result of its high cost in the past and the challenging methods required to extract it.
What Is the London Metal Exchange (LME)?
Metal futures and options are traded on the London Metal Exchange (LME), a commodities exchange. For base metals, such as aluminum, zinc, lead, copper, and nickel, it is the largest exchange for options and futures contracts. Silver and other precious metals trading is also made possible by the exchange.
Despite being based in London, England, Hong Kong Exchanges and Clearing has owned the LME since 2012. Prices found on the LME are regarded as the industry norm for base metals around the world.
The best LME Historical Rates API In 2023 that can give you metal prices and help you invest is Metals-API.
Why do we recommend Metals-API?
The Metals-API may deliver real-time precious metals data through API at a frequency as high as every 60 seconds, with an accuracy of two decimal places.
Providing exchange rates for precious metals, currency conversions, time-series data, volatility statistics, and the lowest and highest prices of any particular day are a few of the features.
How Does It Work?
It is simple to use. Now all you have to do is adhere to the guidelines listed below:
- Create a profile.
- Produce an API Key
- Choose the desired metal and currency.
- Make an API Request, then wait for the system to respond with an API.
Is The Website Secure?
Banks and financial information providers, such as the European Central Bank, are where Metals-API gets its currency data from. Bank-grade 256-bit SSL encryption is used to encrypt your connection to the API.