What is a free API for getting the current price of Palladium? Or What is a free API for getting the current price of Palladium?
We have the answer: Metals-API.com
Metals-API.com is a simple and lightweight API for current and historical precious metals rates. This API offers real time prices and quotes for metals including Gold, Silver, Palladium, Platinum and other base metals.
Real-Time and Historical API Quotes for Platinum, Palladium, Rhodium, Ruthenium and other Metals
- Palladium API in real-time, delayed, historical and tick-by-tick periodicity
- Real-time precious metals prices API for Platinum, gold, silver, palladium and other precious metals.
- Real-time metals price API for base metals and platinum group metals
- Intraday and historical charts AP
- Historical spot and future prices for Platinum, gold, silver, palladium and other metals.
- Use a trusted Palladium price API used by hundreds of firms in the industry
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Metals-API.com is used by thousands of developers, SMBs and large corporations every day. Rock-solid data sources and 6+ years of experience make Metals-API the #1 resource for real-time precious metals rates.
Our spot exchange rates are sourced from a very broad base of commercial sources and banks around the world, each of varying types and frequencies. The larger weighting particularly for major currencies and metals are towards commercial sources as they more accurately reflect the trading occurring in the markets.
In order to ensure the highest possible level of data coverage and accuracy, our system relies on a very distinct “validation and fallback” algorithm, assigning different priorities to each data sourceand validating each metal/forex rate as it enters our databases. If a source fails to deliver an accurate quote, the next highest provider is queried for this particular currency pair. This enables us to sort out possible inaccuracies and provide the vast majority of all spot exchange rates with a precision of six decimal places.
Why is the palladium market important to traders?
Palladium is a silvery-white, lustrous metallic element. Together with platinum, ruthenium, rhodium, iridium and osmium are forms the PGM, or the Platinum group metals.
PGMs are extremely rare. According to the geological survey, the group accounts for only 0.0005 parts per million of the Earth’s crust. The six metals, comprising the Platinum metals group are highly valued for their superior catalytic features.
English chemist William Hyde Wollaston was the first who discovered palladium in 1803. The malleable shiny element soon gained popularity in jewellery production.
With the advent of modern emission standards for automobile industry, palladium transformed from a luxury metal to an essential commodity, preventing air pollution.
Since 1989, palladium is mainly used for catalytic converters for automobiles, which trap hazardous emissions when an engine burns fuel. Auto makers use more than 75% of the total of 208,000 kilograms of palladium mined annually.
Palladium’s abnormal capacity to absorb hydrogen – 900 times higher than its own volume – makes it extremely valuable for nuclear industries.
Palladium market trading hours
CME Globex provides electronic trading 24 hours/6 days a week:
Sunday to Friday, 6:00 p.m. – 5. p.m. with a 60-minute break each day.
If you choose to trade CFDs, you can follow the palladium prices live in US dollars with the comprehensive palladium price chart with Capital.com:
Monday to Thursday, 00:00 – 21:00 and 22.05 – 00.00
Friday, 00.00 – 21.00
Sunday, 22.05 – 00.00
Top 5 palladium market businesses
Buying shares of mining and exploration companies is another popular, albeit indirect way of trading platinum. In times when platinum is rising, investors in platinum stocks can profit. A list of some of the key players in the platinum market includes the following businesses:
- Anglo American Platinum
The world’s largest primary producer of platinum. It accounts for 38% of the global annual supply of platinum. The company’s shares are listed on the Johannesburg Stock Exchange (JSE).
- Impala Platinum
A leading producer of platinum and associated PGMs. Originally, the company was known as Bishopsgate Platinum. Its shares are listed on the Johannesburg (JSE) and London Stock Exchange (LSE).
A British producer of platinum group metals. The popular British newspaper the Observer once owned the business. Lonmin’s shares are listed on the Johannesburg (JSE) and London Stock Exchange (LSE).
- Norilsk Nickel
Russian nickel and palladium mining and smelting company. The company’s shares are listed on the London (LSE) and Moscow Stock exchange (MCX).
- Sibanye Stillwater
The world’s third largest producer of platinum, also involved in gold production. The company’s shares are listed on the Johannesburg (JSE) and New York Stock Exchange (NYSE).
Also published on Medium.