What Are Commodities?
Commodities are goods that can be bought, sold, and transported in bulk. A commodity is not specific to a particular brand or manufacturer. The exact type of commodity changes as frequently as stock markets change. Although some commodities never go out of style (gold), others (steel) are more fickle. The primary classifications for commodities are:
Metals: These are the most prevalent commodities and typically include silver, gold, and platinum. Metals can be used for a variety of purposes, including but not limited to making jewelry, ornaments.
Energy: This commodity typically includes fuel used to power vehicles and equipment such as gasoline, diesel, and natural gas.
Agricultural: These are crops that are grown for human consumption, such as wheat and corn. They also produce livestock such as cattle and pigs.
Commodity price data is the cost of a commodity in a given time period. The commodity price data is commonly used in a number of applications. It is commonly used in the financial services sector to track the current price of a product or asset. The availability of this data can also help with forecasting future trends in commodity prices. Another popular application for commodity price data is to track the performance of commodities over time. By comparing current prices with historical prices, analysts can get an idea of how prices have changed over time and how they may continue to change in the future. These data can also be used to track the performance of individual commodities such as crude oil or gold; or to track the overall performance of all commodities combined.
Commodity Rates API
The Commodity Rates API provides pricing data for a wide range of commodities. It covers commodities such as gold, silver, crude oil, natural gas, and more. This API allows you to query pricing data by commodity type; or by date range. It also allows you to query by country; which is useful if you want to track price fluctuations by location. And you can use this API to track the prices of commodities over time; which is useful if you want to see how prices are changing over time; and if you want to see how these changes affect different commodities in different ways. And you can use this API as frequently as you like; which is great if you need real-time pricing data; or if you need pricing data for historical purposes. So Commodity Rates API has a wide range of functionality, so
Check different Commodity rates with this API. Get the latest price, prices per date, open, close, and much more.