Pure gold has an exceptionally long lifespan. It is the least reactive metal and will not corrode, rust, or degrade when exposed to oxygen or most chemicals. As a result, it is suitable for use in jewelry and high-status items where the value and shine must remain eternally.
It is one of the most important precious metals in the world. In 2020, Latin America stood out in the production of this industry. Peru was the number one country in the largest silver reserves and Mexico the sixth. In 2019, Brazil was South America’s number one gold producer and was followed by Peru and Mexico.
So it’s clear that the Latin American industry is growing every year and occupies a strong place in worldwide production. If you want to invest in this business and want to get the prices of gold in Latin American currencies, then it’s important to understand how useful an API can be to you.
An API is a set of definitions and protocols used to develop and integrate application software, allowing two software applications to communicate using a set of rules. When you send a request to an API, it returns an answer, in this case, the price of gold in the currency chosen.
Usually, this information is given in JSON format, which is the most commonly used data format for web data transport. This data interchange might take place between two computer programs that are running in different geographical locations or on the same system. JSON is both human and machine-understandable. While programs and libraries can read JSON documents, humans can also examine the data and infer meaning from it.
How Can You Get An API?
To do this you need to use a software that provides you with the API. For example, you can use Metals-API, Kitco, or Goldapi. For this example, we will use the first one, since we think it’s the most complete one.
First, you need to enter www.metals-api.com and sign in to get an API key. Then, you choose the metal you desire, in this case, gold, and the currency you need. When you send the request, the API will give you what you’re looking for in JSON format. You can then extract the API and use it however you want.
What Is Metals-API?
Metals-API is a software that delivers dependable and fast statistics on any precious metal in any currency. The data on the free plan is refreshed every hour and has a 2 decimal point accuracy. In this case, you will also receive 50 API calls each month. When you buy an annual package, you will get more API calls and data per minute.
Every minute, Metals-API gets data from over 15 reliable data sources. Banks and financial data providers are among them. As a result, you will receive highly precise pricing. Metals-API provides the current market value of gold, silver, aluminum, platinum, and palladium, among other precious metals. The website’s data may be utilized in a variety of places, including spreadsheets, other websites, and mobile apps.
Also published on Medium.