Are you worried about the volatility of the world metals market? Worried about not knowing what’s going on with rhodium? Well, with this API, you can keep up to date with the prices of this metal. It is the best API for Rhodium prices.
Rhodium is considered to be one of the most expensive precious metals in the entire world, or rather, the most expensive in the world. In 2018, the price of an ounce of 28 grams of rhodium reached more than $2,350. After just two years, in 2020 this same ounce broke the record, positioning itself with a price of 8,000 dollars. In March 2022, it reached its all-time highs, reaching $22,000 a wave. But, volatility is very dangerous. Various factors caused rhodium to drop 50% in just 3 months. Despite this, rhodium is still almost 8 times more expensive than gold.
One of the main reasons why rhodium is such a highly priced metal is because of the growing demand from different industries such as the automobile industry. The strict regulations on polluting emissions and the limitation of their supply force industries to renew their processes and materials. In this way, this material is used in the manufacture of catalysts with which they neutralize the dangerous emissions of nitrous oxide from vehicle exhaust pipes. In addition, it can be alloyed with other metals quickly and easily.
However, as we mentioned earlier, the price of rhodium has changed a lot in recent years and months. It is no longer useful to read the news in newspapers or TV, you have to be informed 24 hours a day. For this reason, we suggest you use the Metals-API, which will allow you to update the price of rhodium every minute. In this way, you will be able to better analyze the situation and prevent a possible change in prices.
What is Metals-API?
As its name indicates, Metals-API is an API (Application Programming Interfaces) and its objective is to allow you to obtain rhodium prices quickly and dynamically. In fact, with this service, you will be able to obtain live rhodium prices, with a precision of 2 decimal places, and with the possibility of updating prices once every 60 seconds. With these features, you will be able to prevent anything that can happen with this metal as volatile as rhodium and you will save a lot of money. Capabilities include delivering exchange rates for Precious Metals, converting single currencies, returning Time-Series data, fluctuation data and lowest and highest price of any day.
How to use Metals-API? If you just want to get rhodium rates, we recommend reading these instructions:
1. First you need to go to www.metals-API.com and at the top right you will find “get API key”. Click there.
2. Then on the main screen you will find the option to sign up and choose a plan. In total, there are 7 plans (one of them is free and the rest are paid). If you choose a payment plan, we recommend that you carefully read the differences between each one and thus choose the best one for you.
3. After this, select the one you want, in this case, rhodium, and then the currency of your country. There are 170 coins available.
4. When you are done with all of the above, make the API call.
5. As a programming language, you can choose between JSON and PHP.
Also published on Medium.