Do you want to stay updated on commodity market prices? If the answer is yes, you should use this REST API for commodities prices!
Commodities are goods that, no matter where they are produced, are of comparable quality and utility. For instance, most individuals don’t consider the place of production; or processing when they purchase an ear of corn or a bag of wheat flour from the grocery store. Since commodities are interchangeable, a wide range of items for which consumers don’t care about the brand may potentially fall under this criteria.
Investors frequently have a more constrained viewpoint and focus on a small number of globally in-demand necessities. Many of the commodities that traders wager on are the base materials for produced goods. This explains how the commodity market is the largest financial market in the world.
However, such as everything on the market, commodity prices change over time due to several factors. Some of these include; weather conditions, supply and demand, and political events. These changing conditions can result in significant changes in commodity prices; which makes it important to stay updated on these fluctuations. Luckily nowadays there is an easy way to keep track on these changes, and is by using a REST API for commodities prices.
Obtain Data On Commodities By Using A REST API For Commodity Market Data
Two software programs can communicate with one other thanks to a REST API, or application programming interface. This allows them to request and retrieve reliable data in a matter of seconds. An API for commodities prices can therefore provide you with their rates rapidly; because it gathers accurate commodity data from multiple trustworthy sources.
Overall, the best way to obtain a certain piece of data is with a tool like this; but you must be aware of which online service has the greatest API. For instance, Commodities-API is a popular online service that gathers information on commodity prices from over 15 reliable sources every minute; including the Central Bank, banks, and financial data organizations. With up to 170 options for choosing commodities and currencies, Commodities-API data offers a search time of less than 60 seconds!
How To Obtain Real-Time Commodities Prices With This API
- Register at Commodities-API to acquire an API key. Additionally, you can choose the plan you want to utilize. Commodities-API offers three further options: starting (no-cost), basic, and professional.
- Before making any API calls, authorize your API key. Simply make sure that the authorization header contains your bearer token. After that, you’ll be all set to start using the API.
- To check a pricing or rate, select the currency you want to use, then the commodity symbol you want to employ (for instance, oil, coal, coffee, etc.). Keep in mind that Commodities-API supports 170 different currencies!
- Call the API after you’ve completed the aforementioned steps and wait a little while.
If you have any queries, you can use the website’s virtual chat feature; or send an email to [email protected]. On the website, there is a wealth of information that will thoroughly explain every Commodities-API feature. With this information at your disposal, you can implement the API in about 10 minutes, by following clear code examples and a comprehensive API documentation.
Related post: Get The High And Low Price Of Any Commodity On A Specific Day Using An API