Are you looking for metal pricing data? In this post, we’ll present the best database APIs in 2023.
Precious metals are very important resources for certain sectors of the economy. Many times, they are consumed as a final product, for example in jewelry with gold and silver. Other industries like electricity need copper to function.
The health sector needs osmium, and lithium is used to make chips. Especially different technological and electrical industries need precious metals to function. That is why the precious metals market has a very dynamic supply and demand.
This is very important to think about in current times. The whole inflationary situation in most of the countries, added to the war, is having different incidences in the supply chains. It is for this reason that some industries are having trouble producing and adding value to precious metals. For this very reason, many metal prices began to decline in the first half of the year.
There are many cases where you might care about this type of information. One is that you are a person who invests in metals as assets. Many people in the world do it with the oldest and most well-known precious metals such as gold and silver.
Another case is that it operates in some of the industries that we mentioned earlier. For example, if it manufactures chips for cell phones, televisions, or even certain sectors of the automotive industry, they need this type of resource.
Finally, another case in which you may need these prices is that you have a company that advises investors. This can be a metal newspaper, financial or even a bank. In this sense, it is convenient for you to share with your clients in real-time the prices of precious metals.
For this reason, you will guarantee the permanence of your relationship with customers since they will trust you for providing them with this data. In this sense, it is convenient for you to use an API, here we will present three options that will provide you with databases of metal prices.
Metals-API
Metals-API is very comprehensive as it has a wide range of endpoint documents. This will allow you to acquire information and share it on many topics. Not only will you get real-time information, but you can also access fluctuation data and historical rates.
You can also juxtapose different metals simultaneously, with their prices in different international currencies. Developers use it widely for its ease of programming and embedding within websites and apps. It can be used in JSON, Python, and PHP.
Kitco
Kitco is a precious metal pricing and bullion product retailer. It was the first precious metals company to provide investors with real-time market information, news, analysis, and precious metals services online.
This API is used by millions of people around the world. That is why they include it in various digital media. There are many professionals in the metals market working every day to grow this dynamic market.
MetalPriceAPI
MetalsPirceAPI offers current and past rate information. Compare the prices of this API with those of other APIs. You have different plans with which you can make from one request per month to millions of requests per day. It takes its information from the sources that are financial authorities in the world.