Do you want to try the best API to follow the NYMEX rates? We recommend Metals-API.
Over the past 1.5 years, the metals market has experienced some extreme volatility.
Production was hampered by economic worries and supply shortages brought on by COVID-19, which caused precious metal prices to largely increase through the year’s conclusion and well into 2021.
If you want to find out the prices of metals, you need to try: Metals-API.
What are precious metals?
Because they are uncommon and have a high economic worth, precious metals get their moniker. Investors can store money and look for value growth in precious metals.
Because they are uncommon and have a high economic worth, precious metals get their moniker. Investors can store money and look for value growth in precious metals.
Gold, silver, and platinum are the most popular precious metals that individuals invest in. Other varieties of valuable metals include ruthenium, iridium, osmium, palladium, and rhodium.
Value has traditionally been stored and exchanged using precious metals like gold and silver. Additionally, they have been employed to support the value of a government’s currency or to create official money.
In the past, these metals have been a tool for investors to find gain during inflationary periods and safety during unstable economic times. Of course, precious metals are also bought for commercial and industrial uses, including the production of jewelry.
Because they don’t closely follow the swings of the stock or bond markets, precious metals, which are included in the commodities asset class, are now primarily utilized by investors as a way to diversify their portfolio beyond stocks, bonds, cash, and other holdings.
What are the NYMEX Rates?
NYMEX Price means, in respect of palladium or platinum, the settlement price per troy ounce at the close of business on any Business Day for a contract to sell such Precious Metal for delivery in the next subsequent month for which such a contract is offered for sale on the NYMEX.
New York’s NYMEХ (New York Merchantile Exchange) is a US futures market founded in 1882. Currently trade is carried out by the exchange’s two divisions, the NYMEX Division and the COMEX Division, the first one designed for trades of oil, gas, platinum, palladium, ethanol, coal, electricity and carbon dioxide emissions, the second one for gold, silver, copper and aluminum, “Armenpress” reports.
A good NYMEX Rates API we recommend 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.
Also published on Medium.