Do you require an API to stay up with the newest silver prices? It must be obtained from reputable sources. We propose one using COMEX data in this post.
It is a metallic chemical element with the atomic number 47 and the symbol Ag, and it is exceedingly ductile and malleable. It is an excellent conductor of heat and electricity, although it is extremely rare in the earth’s crust. Furthermore, it is corrosion-resistant and does not rust. It is derived as a byproduct of the processing of lead, gold, zinc, and copper mining.
In any case, silver has several applications, including medical wart treatments, deodorants, batteries, motors, glass, 3D printing, the automobile sector, photography, solar panels, coinage, and, of course, as an investment. Approximately 70% of the world’s silver production is utilized for industrial reasons, with the other 30% used for monetary purposes.
On the internet, several sites supply silver values. However, not all of them are up to date or reputable. COMEX rates should be obtained. It is the principal futures trading market for precious metals including gold, silver, copper, and aluminum. The Commodity Exchange Inc. (COMEX) is an acronym for the exchange’s full name: The Commodity Exchange Inc. In 1994, COMEX combined with the New York Mercantile Exchange (NYMEX) to become the platform for its metals trading. You can obtain data from COMEX with an API
What Is An API?
An API is a data transfer method that allows two devices or apps to communicate with one another. You’ll need to look for and employ technology to assist you. There are a few tools that may be useful but bear in mind that they are not all accessible or give the same material.
It’s easy to discover an API, but it’s more difficult to find one that delivers silver rates in COMEX units. This information is gathered by Metals-API, one of the world’s major metals databases. 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 with, it is an API designed to monitor metal prices (including silver) with an accuracy of 2 decimal points and a frequency as high as every 60 seconds. Every minute, the Metals-API collects exchange rate data from over 15 credible data sources. Banks and financial data providers, such as COMEX, NYMEX, and the London Metal Exchange, are among the sources.
Second, since their technology automatically translates precious metals values to 170 different currencies from across the world (you could see the prices in your local currency). However, considering the importance that cryptocurrencies have gained in recent years, Metals-API also supports Bitcoin and other digital currencies.