Are you from Switzerland and are you looking for Palladium prices? We know that the Euro is not the only currency in Europe and therefore it is important to have the prices in your local currency. For this, an API will solve this kind of problems.
Palladium is a transition metal located in group 10 of the elements of the periodic table. It is a whitish and silvery metal that does not tarnish in the air, it is easily malleable, soft, ductile and scarce, its finding being rare. Like all platinum group metals, palladium can be found in natural mineral deposits in regions of Russia, South America, Ethiopia, and Australia.
Regarding its use, palladium is used mainly in the preparation of white gold for commercialization, which discolors gold and makes it very popular in jewelry. Palladium can be produced in thin sheets that are very useful in dentistry, surgical instruments, watches, and electrical contacts due to their high strength. Its other most common use is as a catalyst, thus, palladium is often used in hydrogen reactions and in turn in dehydrogenation.
In recent years, the price of palladium has been very unstable and has been fluctuating in recent years. But now, from reaching all-time highs in early March, it has fallen by 48% in just a few weeks. However, to be aware of these price changes, it is best to use Metals-API, a system designed to serve as an alarm in this type of case.
Metals-API started out as a simple, lightweight Open-Source API for current and historical precious metals rates published by the banks and other companies like Metex or London Metal Exchange. This service, offers you real-time precious metals data with an accuracy of 2 decimal points and a frequency as high as every 60 seconds. Thanks to these tools, you will be able to get palladium prices almost instantly and thus, you will be able to decide when is the best time to buy this metal.
But first, you’ll need to receive an API key to get the most up-to-date prices in Swiss Franc. You’ll need to pick one of the seven options available; don’t worry, one of them is free. Each plan has advantages and disadvantages, but the more you pay, the more benefits you’ll receive. For example, the free plan only allows for one pricing update per hour, whereas the Business Starter plan allows for 60-second updates. Last but not least, keep in mind that the prices are annual, not monthly.
Also published on Medium.