Do you wish to obtain Precious metal prices with an API? You need one with data from reliable sources. In this case, we recommend you an API with data from Dubai Gold & Commodities Exchange.
Because Dubai has long been a global center for the physical exchange of not just gold, as well as several other products, the formation of the Dubai Gold & Commodities Exchange (DGCX) was the next obvious step for the country and the domestic economy. DGCX began trading in November 2005 as the area’s first commodities derivatives exchange and has since grown to become the Middle East’s top derivatives exchange.
DGCX is a unit of the Dubai Multi Commodities Centre (DMCC), a strategic project of the Dubai Government to improve commodity trade flows through the Emirate by providing the necessary physical, market, financial, and other essential services. DGCX’s management team is composed of top executives from the commodities, securities, and financial services industries, offering a wealth of knowledge and skills to ensure DGCX’s success.
Gold prices have risen nearly 18% in the calendar year 2022 (CY22) to around $2,050 per ounce, owing to the ongoing Russia-Ukraine conflict, and there is more room for growth in the coming months, according to Goldman Sachs analysts, who anticipate prices to rise another 25% to $2,500 per ounce by the finish of the year.
At the start of the Russia-Ukraine crisis, experts predicted that the subsequent commodity boom would worsen the developed market growth-inflation mix, raising fears of a US recession, and drive gold ETF inflows to 600 tons, pushing gold prices to $2,350 an ounce in a year.
An API can be used to collect data from this source. It is a software that lets two devices (cellphones, ATMs, computers, etc) communicate and exchange data. You can integrate it to your application or website and share data with your customers.
However, there are a lot of them in the internet, but not all of them supply serious, reliable data, therefore if you want to engage in the metal market, you must utilize Metals-API. It has current and historical rates to decide the best moment to invest.
About Metals-API
Metals-API includes data on a variety of metals, including zinc, gold, palladium, and steel rebar. You may also watch the value of these metals in over 170 other currencies, including USD, EUR, and BTC. It collects data from well-known financial firms. Rates for COMEX/NYMEX are also accessible. It is also utilized by organizations of all sizes, like Barrick Gold, a worldwide mining company.
This API delivers real-time precious metals data with an accuracy of 2 decimal points and a frequency of 1 minute. You can evaluate indications and choose the best moment to invest by using current and historical pricing. For this aim, metals-API may also be utilized to identify data variations.