Looking to get gold prices from the over-the-counter market? Well, on this site you can find them and also, you will find much more information. We advise you to access this site and discover all the tools it offers investors! Find out more details about this precious metals api!
(OTC) are over-the-counter markets where different financial instruments (bonds, stocks, swaps) are traded directly between two parties. OTC contracts are used for this, in which the parties agree on the method of liquidation of an instrument. OTC contracts can be concluded between an investment bank and a client (normally a company that needs financing) or between financial institutions. OTC derivatives traded between financial institutions usually take the clauses of the “International Swaps and Derivatives Association” as a framework. These markets are not for the general public or retail investors.
One of the first characteristics of OTC markets is that correspond to unregulated markets, an expression that is also often used to refer to these markets. But it must be taken into account that, although the activity in these markets is not supervised, the largest operators (credit institutions) are, except for the Hedge Funds. Therefore, banking supervisors have access to the operations carried out by the supervisor. These are innovative markets, due to the liberty of negotiation and the specificity of the products that are traded. These markets have more risks than traditional markets, given that the counterparty risk must be added to the market risk, which is greater than in regulated markets since there is no clearing house.
Typically, most of the over-the-counter gold markets are located in the UK capital, London. So what this API called Metals – API does is connect the user with those markets so that they can access the prices of the OTC market more easily.
Metals-API is the best way to obtain gold’s London OTC Market Prices!
You don’t need to be a programmer to get gold’s London OTC Market Prices! Metals – API is a system designed so that any investor in the world can obtain the data without having to make too much effort. The procedure is very simple! In addition to registering (it is important to register or else you will not be able to use the service), you will have to review the list of symbols on the platform. In this list of symbols, you will find the metals that are available and gold is one of them. Then, you must choose the legal tender. If you are from the United Kingdom, then the symbol is GBP, which corresponds to British Pound Sterling.
Then, you only need to run the Endpoint and that’s it! You will get the data you need. Important detail! You may find the result of gold a little difficult to understand, but it is easy to solve. Metals – API will give you a result and you will have to divide that number by 1. For example, 1 pound sterling = 0.000634 gold. 1/0.000634 = GBP 1577.28. That will be the result you should observe!
There is even a 3-Step QuickStart Guide to use this system in 3 simple steps! We recommend you read all the information available on the webpage and thus find more tools offered by the platform. Otherwise, you can simply send an email and solve your doubts with customer service! Obtaining over-the-counter market information has never been easier thanks to Metals – API!