If you require a free API containing gold rates from reputable sources, we propose Kitco data.
Gold is one of the world’s rarest elements, accounting for between 0.001 and 0.006 parts per million of the earth’s crust. According to World Gold Council (WGC) figures, worldwide gold mine production in 2020 was 3,478.1 tonnes (122.7 million ounces), a little decrease for the second year in a row after climbing steadily over the previous several years. The epidemic has played a role in this delay, but we may also be witnessing the effects of continually dwindling exploration funds.
This begs the issue of whether gold has finally reached its high. The low-hanging fruit has already been exploited, and massive quantities holding millions of ounces of gold are no longer being found at the same rate that they once were. Take South Africa, for example. The country was formerly the world leader in gold extraction, excavating over 1,000 tonnes in 1970, but its volume has dramatically fallen since then. It dropped out of the top ten gold-producing lists entirely last year.
The top ten nations with the most gold output in 2020, beginning with China, the world’s largest producer as well as the consumer. Russia, Australia, the United States, Canada, Ghana, Brazil, Ubekistán, Mexico, and Indonesia are listed in order.
If you wish to invest in this metal, you must stay current on gold prices, which are quite volatile. As a result, you cannot rely on every source available on the internet. Kitco is among the most reliable metals market data sources, although it is difficult to locate.
But first, what exactly is Kitco?
Kitco is the largest global precious metals specialist and bullion seller, as well as the prominent voice in materials knowledge, providing industry-leading news, data, and insights.
Millions of people from all over the world visit it regularly. It was the first metals business to provide investors with genuine market information, news, analysis, and online precious metals services. Kitco’s media division is a global authority on precious metals, commodities, and mining, generating and distributing cutting-edge news, market insights, and data to a global audience. You should utilize an API to obtain this information.
About APIs
An API is a method of data transmission that allows two devices or programs to communicate with one another. You will need to look for and employ technology to assist you. Some tools may be useful, however, keep in mind that not all are accessible or offer the same data.
It is easy to discover an API, but it is more difficult to find one that gives silver rates in Kitco units. Metals-API, one of the world’s major metals databases, collects this information. You may also utilize the API to connect it to your website or app, and the page’s plugins to gather current and historical rates.
Why Metals-API?
To begin, it is an API able to track metal prices (including gold) with an accuracy of 2 decimal points and a frequency as high as every 60 seconds. The Metals-API collects currency exchange data from over 15 trustworthy datasets per minute. Banks and financial data providers such as COMEX, NYMEX, Kitco, and the London Metal Exchange are among the sources.
Second, its technology instantaneously translates precious metal values to 170 different currencies from across the world (you could see the prices in your local currency). However, considering the popularity of digital currencies in recent years, Metals-API now accepts digital currencies as well as all currencies from across the world.