The gold market is one of the most important in the world. No matter what nation it is, they all respond to gold. Their prices perceive it that way. The gold market is expected to reach more than $400 billion dollars by 2028. So starting to be aware of your rates from this moment is essential.
While it can be done manually, rates are not easy to come by. And less for free. For this reason, in addition to having the capital, it is necessary to have the best tools to manage it remotely.
The first piece of advice everyone gets for handling gold rates is not to take it lightly. To begin with, it should be an all-day job, it is not enough to dedicate only 8 or 9 hours. It is something that must be analyzed minute by minute, more at this time.
Knowing the changes per hour in the age of immediacy might not work to maximize your profits. The best way is to use a tool like Metals-API, one of those that allows you to know the changes of the currency minute by minute.
Metals-API provides API access to live market data of precious metals with a 2 decimal point precision. It has a 60-second refresh rate.
To ensure the best possible degree of data coverage and accuracy, our system employs a unique “validation and fallback” mechanism, assigning different priorities to each data source and validating each metal/forex rate as it enters our databases. In case one of the sources doesn’t provide the necessary information, the API contacts another source. This enables us to eliminate inconsistencies and provide the vast majority of spot exchange rates with six decimal places of precision.
Metals-API collects market data prices in a variety of formats and frequencies from a variety of trading sources and institutions around the world. The best sources that accurately reflect market exchange are the commercial ones.
- Access institutional quality real-time precious metal prices through an easy-to-use API using a trusted Gold and Silver pricing API used by hundreds of companies in the industry.
- Easily include real-time Gold and other metals prices in your spreadsheets, websites, mobile apps, and other business applications.
- Reduce the time it takes for apps that rely on precious metal prices to reach the market.
- Using cloud APIs, you may get rid of the aches and complexities of legacy feeds.
Also published on Medium.