Do you need information about these Commodities? We can help you with that. In this post, we will tell you everything you must know. First of all, Commodities are raw materials that are used to create other products. There are several commodities and they have different uses. The most used ones are gold, silver, oil, and others. These commodities are used regularly to create different products. For example, Gold is used as a decoration, as jewelry and more.
Moreover, this commodities have different price systems based on supply and demand. Because of this there are several ways to price them. There are futures and forward contracts. There is a difference between the two since futures are bought and sold on an exchange, while forward contracts can be bought in the cash market or through an exchange but are not traded publicly. Then there are exchange-traded instruments like ETFs and ETNs that invest in commodities like oil and gold or index futures like the S&P Gold Futures Index or the S&E Oil Index.
Commodities prices API: What is it?
As we previously explained, there are several ways to price commodities. It is important to know them all so you can know which one is better for you. Besides knowing how to price them, it is also important to know information about their prices like their current rate.
There are various APIs available in the market that offer these services but not all of them can provide accurate information in a short time so we will recommend you three easy-to-use APIs that will get you the latest commodity rates in no time! Check them out below!
3 Easy To Use API What Are The Top Commodities
Get Current Price API:
Check different Commodity rates with this API. Get the latest price, prices per date, open, close, and much more.
To make use of it, you must first:
1- Go to Commodities API and simply click on the button “Subscribe for free” to start using the API.
2- After signing up in Zyla API Hub, you’ll be given your personal API key. Using this one-of-a-kind combination of numbers and letters, you’ll be able to use, connect, and manage APIs!
3- Employ the different API endpoints depending on what you are looking for.
4- Once you meet your needed endpoint, make the API call by pressing the button “run” and see the results on your screen.
