Do you live in the United Arab Emirates? Do you need to be up to date with the latest gold prices? Well in that case, we have excellent news for you!
One of its best-known properties of gold is that it is the most malleable and ductile metal that exists on the entire planet. It is possible to transform it into all kinds of pieces, from wires to sheets, with a stretching or thickness capacity totally adaptable to our needs. In addition, gold is an inactive metal and practically nothing affects it, it is not altered by air, heat or humidity. In fact, it is difficult to dissolve.
The most widespread use of gold is for coining coins (alloyed with silver and/or copper) and for its resistance to corrosion, it is used in industry, jewelry and electronics. In fact, almost all current electronic devices they have gold, which is used massively on gold plated contacts and lead wires. Although its cost is higher, its use in small quantities, it is justifiable and very necessary.
However, beyond its industrial uses, it is clear that the most important use of gold is as a savings and investment mechanism. In fact, if we had invested in gold 50 years ago, today we would have a profit of 4000%! Even to this day it continues to rise. In the case of the United Arab Emirates, being an oil producing country, it is clear that gold is one of its most important sources of investment.
For those Emiratis who want to invest in gold but want to see the prices in the local currency, Metals-API is the ideal tool for this!
Metals-API works with more than 170 currencies in the world, including the dollar, euro, Chinese yuan, Japanese yen and of course, the Arab Emirates Dirham. Currently, it obtains data of all metals in the world, for all those investors, entrepreneurs, small and large companies. In this way, we will be able to know what is the ideal time to invest and buy.
Surely you are wondering… is the gold information 100% reliable? The answer is yes! Metals-API collects data from 16 internationally renowned companies such as the famous London Metal Exchange (LME). So yes, don’t worry, the information is safe.
In any case, if you have any questions about how it works, they have extensive and complete documentation on how to use it on their website. If you still have doubts, there is always the possibility of asking through the virtual chat.
Also published on Medium.