Would you like to obtain information on the price of metals over time? Well, for that, you will only have to use this incredible system. Thanks to the features offered by this metal prices API, you will be able to obtain not only metal prices but much more! Check the info in this post!
Metals were first used by prehistoric settlers to make weapons and tools. Around 6000 BC gold was discovered and popular due to its scarcity as well as its great value. It was used to make jewelry items. Copper was discovered around 4200 BC and was also used to make weapons. Silver arrived on the scene in 4000 BC and was used as currency in the Roman and Chinese empires. Other metals such as lead, bronze, tin, iron, mercury, nickel, uranium, titanium, chromium, aluminum, and several others were discovered later.
Metal trading became popular in places like London with the opening of the Royal London Stock Exchange in 1571. Trading metal futures contracts began after the industrial revolution in the UK in the 19th century. Traders could now hedge against changes in metal prices and trade picks. LMEX index contracts were established in the year 2000 and several different metals began to be traded on the London Metals Exchange (LME) and various other exchanges around the world. LME is now the world’s largest metal futures exchange.
Currently, the trade in metals moves millions and millions of dollars. For these reasons, many people are on the lookout for any variation in price. As many of you know, metals can be affected by external factors such as economic crises, and wars, among others. Therefore, it is important to use Metals – API, the best tool of all to obtain metal prices over time.
Use Metals – API to monitor metals prices over time
Metals – API is the best tool to obtain information on metals and their historical evolution. Take for example the case of gold. Gold has changed a lot over the years. But for example, did you know that in the last 20 years its price grew by +453.88%? We know this information because we use this API with all the features it offers. You will be able to obtain historical prices, to know how prices have changed over time. In this way, you will be able to draw more accurate conclusions.
Also, you could use that information to create charts. This tool will help you visualize a lot of information and allow you to analyze it better. You can do all this thanks to Metals – API! Please note that you will not be able to use this API unlimitedly. There are limits set by each plan. That is, a cheaper plan will offer fewer requests, while a more expensive plan will offer many more requests.
Another detail that you must take into account is that the information that Metals – API gives you, you must divide it by 1. They return the values based on the base currency. For example, 1/0.000634= 1577.28 USD. It is a simple account and easy to solve if you use a calculator. Remember to check the extensive list of available symbols. You will need them when you want to get the prices of the metal. For more information, visit the website of this metal prices platform!
Also published on Medium.