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Get Accurate Historical Data for Hyderabad Gold 24k (HYDE-24k) with Metals-API

Get Accurate Historical Data for Hyderabad Gold 24k (HYDE-24k) with Metals-API

Get Accurate Historical Data for Hyderabad Gold 24k (HYDE-24k) with Metals-API

Get Accurate Historical Data for Hyderabad Gold 24k (HYDE-24k) with Metals-API

In the world of precious metals trading, having access to accurate historical data is crucial for making informed decisions. For those interested in the gold market, particularly in Hyderabad, the Metals-API provides a robust solution for retrieving historical prices of 24k gold (HYDE-24k). This blog post will delve into the capabilities of the Metals-API, focusing on how developers can leverage its features to obtain precise historical data and insights into the gold market.

About Gold (XAU)

Gold, represented by the symbol XAU, has been a cornerstone of wealth and investment for centuries. As a precious metal, it is not only a store of value but also a critical component in various industries, including electronics and jewelry. The digital transformation in precious metals trading has revolutionized how investors access and analyze market data. With the advent of data analytics and technology integration, traders can now harness real-time insights to make more informed decisions.

The innovation in price discovery mechanisms has allowed for more transparent and efficient trading environments. Digital asset solutions have further enhanced the accessibility of gold trading, enabling investors to engage with the market from anywhere in the world. The Metals-API stands at the forefront of this transformation, providing developers with the tools necessary to build next-generation applications that can analyze and visualize gold price trends effectively.

Metals-API Overview

The Metals-API is a powerful JSON API that provides real-time and historical data for various metals, including gold, silver, platinum, and palladium. It is designed to empower developers by offering a comprehensive suite of endpoints that facilitate easy access to metal prices and market insights. The API's capabilities are particularly beneficial for applications that require accurate and timely data for trading, investment analysis, and market research.

One of the standout features of the Metals-API is its ability to deliver real-time exchange rate data, updated frequently based on the user's subscription plan. This ensures that developers can integrate the most current information into their applications, enhancing the user experience and decision-making processes.

Key Features and Endpoints

The Metals-API offers a variety of endpoints, each designed to cater to specific data needs. Here are some of the key features:

  • Latest Rates Endpoint: Depending on your subscription plan, this endpoint returns real-time exchange rate data for metals, updated every 60 minutes or even more frequently. This is essential for applications that require the latest market prices.
  • Historical Rates Endpoint: Access historical rates for most currencies dating back to 2019. Developers can query the API for historical rates by appending a specific date to the endpoint, allowing for detailed analysis of price trends over time.
  • Bid and Ask Endpoint: This feature enables users to retrieve real-time bid and ask prices for metals, providing insights into market liquidity and pricing dynamics.
  • Convert Endpoint: The conversion endpoint allows developers to convert any amount from one metal to another or to/from USD, facilitating seamless transactions and calculations.
  • Time-Series Endpoint: This endpoint allows users to query the API for daily historical rates between two dates of their choice, making it easier to analyze trends over specific periods.
  • Fluctuation Endpoint: Track how metal prices fluctuate on a day-to-day basis, providing insights into market volatility and price movements.
  • Carat Endpoint: Retrieve information about gold rates by carat, which is particularly useful for jewelers and consumers interested in specific gold purity levels.
  • Lowest/Highest Price Endpoint: Query the API to get the lowest and highest prices for a specified date, helping traders identify market extremes.
  • Open/High/Low/Close (OHLC) Price Endpoint: This endpoint provides open, high, low, and close prices for a specific date, essential for technical analysis.
  • Historical LME Endpoint: Access historical rates for LME symbols dating back to 2008, useful for comprehensive market analysis.
  • API Key: Each user is assigned a unique API key that must be included in requests to authenticate and authorize access to the API.
  • API Response: The API delivers exchange rates relative to USD by default, ensuring consistency in data interpretation.
  • Available Endpoints: The Metals-API provides a constantly updated list of all available currencies and metals, ensuring developers have access to the latest data.
  • Gold Price India Endpoint: Retrieve the latest gold price in India using this dedicated endpoint, which is particularly relevant for local traders and investors.
  • News Endpoint: Access the latest news articles related to various metals, keeping users informed about market developments.

API Endpoint Examples and Responses

Understanding the structure of API responses is crucial for developers. Below are examples of JSON responses from various endpoints:

Latest Rates Endpoint

{
    "success": true,
    "timestamp": 1745125269,
    "base": "USD",
    "date": "2025-04-20",
    "rates": {
        "XAU": 0.000482,
        "XAG": 0.03815,
        "XPT": 0.000912,
        "XPD": 0.000744,
        "XCU": 0.294118,
        "XAL": 0.434783,
        "XNI": 0.142857,
        "XZN": 0.344828
    },
    "unit": "per troy ounce"
}

This response indicates a successful request, providing the latest rates for various metals, including gold (XAU).

Historical Rates Endpoint

{
    "success": true,
    "timestamp": 1745038869,
    "base": "USD",
    "date": "2025-04-19",
    "rates": {
        "XAU": 0.000485,
        "XAG": 0.03825,
        "XPT": 0.000915,
        "XPD": 0.000748
    },
    "unit": "per troy ounce"
}

This example shows how to access historical rates for a specific date, allowing for analysis of past market conditions.

Time-Series Endpoint

{
    "success": true,
    "timeseries": true,
    "start_date": "2025-04-13",
    "end_date": "2025-04-20",
    "base": "USD",
    "rates": {
        "2025-04-13": {
            "XAU": 0.000485,
            "XAG": 0.03825,
            "XPT": 0.000915
        },
        "2025-04-15": {
            "XAU": 0.000483,
            "XAG": 0.0382,
            "XPT": 0.000913
        },
        "2025-04-20": {
            "XAU": 0.000482,
            "XAG": 0.03815,
            "XPT": 0.000912
        }
    },
    "unit": "per troy ounce"
}

This response provides a time-series of rates, allowing developers to visualize trends over a specified period.

Convert Endpoint

{
    "success": true,
    "query": {
        "from": "USD",
        "to": "XAU",
        "amount": 1000
    },
    "info": {
        "timestamp": 1745125269,
        "rate": 0.000482
    },
    "result": 0.482,
    "unit": "troy ounces"
}

The convert endpoint allows users to see how much a specific amount in USD translates to in troy ounces of gold.

Fluctuation Endpoint

{
    "success": true,
    "fluctuation": true,
    "start_date": "2025-04-13",
    "end_date": "2025-04-20",
    "base": "USD",
    "rates": {
        "XAU": {
            "start_rate": 0.000485,
            "end_rate": 0.000482,
            "change": -3.0e-6,
            "change_pct": -0.62
        },
        "XAG": {
            "start_rate": 0.03825,
            "end_rate": 0.03815,
            "change": -0.0001,
            "change_pct": -0.26
        },
        "XPT": {
            "start_rate": 0.000915,
            "end_rate": 0.000912,
            "change": -3.0e-6,
            "change_pct": -0.33
        }
    },
    "unit": "per troy ounce"
}

This response provides insights into how prices have fluctuated over a specified period, which is vital for traders looking to understand market dynamics.

OHLC (Open/High/Low/Close) Price Endpoint

{
    "success": true,
    "timestamp": 1745125269,
    "base": "USD",
    "date": "2025-04-20",
    "rates": {
        "XAU": {
            "open": 0.000485,
            "high": 0.000487,
            "low": 0.000481,
            "close": 0.000482
        },
        "XAG": {
            "open": 0.03825,
            "high": 0.0383,
            "low": 0.0381,
            "close": 0.03815
        },
        "XPT": {
            "open": 0.000915,
            "high": 0.000918,
            "low": 0.00091,
            "close": 0.000912
        }
    },
    "unit": "per troy ounce"
}

This endpoint provides critical data for traders who rely on open, high, low, and close prices for their trading strategies.

Bid/Ask Endpoint

{
    "success": true,
    "timestamp": 1745125269,
    "base": "USD",
    "date": "2025-04-20",
    "rates": {
        "XAU": {
            "bid": 0.000481,
            "ask": 0.000483,
            "spread": 2.0e-6
        },
        "XAG": {
            "bid": 0.0381,
            "ask": 0.0382,
            "spread": 0.0001
        },
        "XPT": {
            "bid": 0.000911,
            "ask": 0.000913,
            "spread": 2.0e-6
        }
    },
    "unit": "per troy ounce"
}

This response provides the current bid and ask prices, which are essential for traders looking to execute orders efficiently.

Practical Use Cases and Integration Strategies

Integrating the Metals-API into applications can significantly enhance the functionality and user experience. Here are some practical use cases:

  • Trading Platforms: Developers can use the API to build trading platforms that provide users with real-time price data, historical trends, and analytical tools to make informed trading decisions.
  • Investment Analysis Tools: By leveraging the historical rates and time-series data, developers can create tools that help investors analyze market trends and make predictions based on past performance.
  • Mobile Applications: Mobile apps that track gold prices can utilize the Metals-API to provide users with notifications on price changes, historical data, and market news.
  • Financial Reporting: Businesses can integrate the API to generate financial reports that include accurate gold pricing data, aiding in budgeting and forecasting.

Conclusion

The Metals-API is an invaluable resource for developers looking to access accurate historical data for gold and other precious metals. With its comprehensive suite of endpoints, the API empowers users to build sophisticated applications that can analyze market trends, track price fluctuations, and provide real-time insights. By leveraging the capabilities of the Metals-API, developers can create innovative solutions that enhance trading experiences and investment strategies.

For more information on how to implement these features, refer to the Metals-API Documentation and explore the Metals-API Supported Symbols for a complete list of available metals. To get started with the API, visit the Metals-API Website and unlock the potential of real-time metals data.

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