In this post, we explore the best public API to get silver prices in Sri Lanka.
Silver is used in a variety of human sectors, including electronics, photography, and jewelry. It is also an effective catalyst for a variety of chemical processes. 70% of the silver mined is used for industrial reasons.
The remaining 30%, on the other hand, will be used for goldsmithing and other monetary uses. It is utilized in the production of white weaponry such as swords, spears, and arrowheads. Also, as previously said, it is critical in the classic photography business because of its sensitivity to light, particularly iodide and phosphate.
We may find it in the medical business, as well as other uses, for external application as silver nitrate. In its pure form, it is also used in the electrical sector to build connections for power energy. It is utilized in the electronics sector, for example, to make conductors and integrated circuits, as well as electronic pushbuttons and computer keyboards.
As if that weren’t enough, it’s also utilized in welding alloys, electrical connections, and electrical batteries (silver-zinc and silver-cadmium). Also used in dental alloys (now obsolete) and as a reaction catalyst in the manufacturing of formaldehyde.
In Sri Lanka, the silver price per kilogram is INR 40,990.07. In this nation, the spot price per gram is INR 40.99 in Indian rupees. The standard price of silver in Sri Lanka is 1,274.93 Indian rupees per ounce, while the price of silver per tola is 478.10 Indian rupees.
The highest silver rate in the previous year was reported on March 9, 2022. On July 21, 2022, the lowest silver rate was recorded. Given the country’s tumultuous condition, this is no surprise. Several markets in that nation have shown tremendous vitality since the rebellion.
Use An API
Seeing all these questions about this metal and its behavior in the Sri Lankan market, it is necessary to draw some conclusions. To buy silver from this country in the first place, it is probably best to invest now as prices are low until the situation stabilizes. Probably after that, they will pick up again. Also with the disruption to the global electronics supply chain, silver is likely to see further price declines.
We can think of this by being attentive to silver prices in this country and in others where there are very important markets. To stay updated, you should use an API. This interface transmits information from one device to another. With a public API, you will be able to see the prices every day and compare them with other data.
The best public API in this regard is Metals-API. This is one of the preferred interfaces among developers because it can be used in a wide range of programming languages. It also has an exhaustive amount of documents to be able to show verified data wherever you integrate the API.
With Metals-API you will be able to compare information such as current prices and historical rates of silver in Sri Lanka. You will also be able to compare this data with that of other markets for the same metal around the world. For this reason, you will also be able to see the information in an important diversity of international currencies.