Looking for an API to get Platinum live and historical rates? Check this company

What is a free API for getting the current price of Platinum? Or What is a free API for getting the current price of Platinum?

We have the answer: Metals-API.com

Metals-API.com is a simple and lightweight API for current and historical precious metals rates. This API offers real time prices and quotes for metals including Gold, Silver, Palladium, Platinum and other base metals.

Real-Time and Historical API Quotes for Platinum, Palladium, Rhodium, Ruthenium and other Metals

Key Features

• API for real-time, delayed, historical and tick-by-tick periodicity
• Real-time precious metals prices API for Platinum, gold, silver, palladium, platinum and other precious metals.
• Real-time metals price API for base metals and platinum group metals
• Intraday and historical charts AP
• Historical spot and future prices for Platinum, gold, silver, palladium, platinum and other metals.

Key Benefits

• Use a trusted Platinum price API used by hundreds of firms in the industry
• Access institutional quality real-time precious metal prices through an easy-to-use API
• Easily embed real-time gold prices and other metals in your applications — including spreadsheets, websites, mobile apps and other corporate applications
• Dramatically reduce time to market for apps that need precious metal prices
• Eliminate the pains and complexity of legacy feeds by using cloud APIs

Metals-API.com is used by thousands of developers, SMBs and large corporations every day. Rock-solid data sources and 6+ years of experience make Metals-API the #1 resource for real-time precious metals rates.

Trusted Sources

Our spot exchange rates are sourced from a very broad base of commercial sources and banks around the world, each of varying types and frequencies. The larger weighting particularly for major currencies and metals are towards commercial sources as they more accurately reflect the trading occurring in the markets.

In order to ensure the highest possible level of data coverage and accuracy, our system relies on a very distinct “validation and fallback” algorithm, assigning different priorities to each data sourceand validating each metal/forex rate as it enters our databases. If a source fails to deliver an accurate quote, the next highest provider is queried for this particular currency pair. This enables us to sort out possible inaccuracies and provide the vast majority of all spot exchange rates with a precision of six decimal places.

An extensive Documentation is available here

Platinum market trading hours

CME Globex provides electronic trading for 24 hours/6 days a week:

• Sunday to Friday, 18:00–17:00, with a 60-minute break each day.

If you choose to trade CFDs, you can follow the platinum prices live in US dollars with the comprehensive platinum price chart on Capital.com:

• Monday to Thursday, 00:00–21:00 and 22.05–00.00
• Friday, 00.00–21.00
• Sunday, 22.05–00.00

How to trade platinum

There are several major reasons to trade platinum:

• Diversification

The presence of the platinum commodity in an equity-only portfolio can lower the volatility, due to the absence of a correlation between the metal and other asset classes.

• Safe Haven

Commodities can serve as a safe haven in times of global economic uncertainty and market turbulence, because they can retain their value.

• Inflation Hedging

Commodities’ intrinsic value is independent from currencies. They will often hold their value, even if a currency falls during a period of inflation.

• Speculation on platinum spot prices

Commodities may be highly volatile, experiencing wild price swings. Trading platinum CFDs is one way to try and profit from drastic platinum price fluctuations.

Trading platinum requires some consideration, due to the market’s occasional high volatility and a wide choice of available instruments, from platinum derivatives, such as futures and CFDs, to platinum mining company stocks.

The metal’s importance as an industrial material, its relatively low production, and concentration among a few suppliers can make its price volatile. Trading platinum can result in a high degree of risk. The chance of making large profits goes hand in hand with the risk of large losses.

Top 5 platinum market businesses

Buying shares of mining and exploration companies is another popular, albeit indirect way of trading platinum. In times when platinum is rising, investors in platinum stocks can profit. A list of some of the key players in the platinum market includes the following businesses:

• Anglo American Platinum
  The world’s largest primary producer of platinum. It accounts for 38% of the global annual supply of platinum. The company’s shares are listed on the Johannesburg Stock Exchange (JSE).
• Impala Platinum
  A leading producer of platinum and associated PGMs. Originally, the company was known as Bishopsgate Platinum. Its shares are listed on the Johannesburg (JSE) and London Stock Exchange (LSE).
• Lonmin
  A British producer of platinum group metals. The popular British newspaper the Observer once owned the business. Lonmin’s shares are listed on the Johannesburg (JSE) and London Stock Exchange (LSE).
• Norilsk Nickel
  Russian nickel and palladium mining and smelting company. The company’s shares are listed on the London (LSE) and Moscow Stock exchange (MCX).
• Sibanye Stillwater
  The world’s third largest producer of platinum, also involved in gold production. The company’s shares are listed on the Johannesburg (JSE) and New York Stock Exchange (NYSE).

Originally published at TheStartupFounder.com.