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Get Coimbatore Gold (XAU-COIM) Historical Prices with Metals-API

Get Coimbatore Gold (XAU-COIM) Historical Prices with Metals-API

Get Coimbatore Gold (XAU-COIM) Historical Prices with Metals-API

Get Coimbatore Gold (XAU-COIM) Historical Prices with Metals-API

In today's digital age, the transformation of precious metals trading is heavily influenced by technology and data analytics. For developers and traders alike, accessing historical prices for gold, specifically Coimbatore Gold (XAU-COIM), has never been easier thanks to the Metals-API. This powerful API provides real-time and historical data, enabling users to make informed decisions based on accurate market insights. In this blog post, we will explore how to retrieve historical prices for gold using Metals-API, while also delving into the broader implications of digital transformation in the precious metals market.

About Gold (XAU)

Gold, represented by the symbol XAU, is one of the most sought-after precious metals in the world. Its value is not just a reflection of market demand but also a safe haven during economic uncertainty. The digital transformation in precious metals trading has opened new avenues for data analytics and market insights. With the integration of technology, traders can now access real-time data, analyze trends, and make informed decisions with unprecedented speed and accuracy.

The innovation in price discovery mechanisms has also been significant. Traditional methods of determining gold prices are being replaced by advanced algorithms and data-driven approaches. This shift is empowering traders and developers to create digital asset solutions that enhance trading efficiency and transparency.

Metals-API Overview

The Metals-API is a comprehensive tool designed for developers looking to integrate metals pricing data into their applications. It offers a wide range of features, including real-time exchange rates, historical data, and various endpoints tailored for specific needs. The API's capabilities are transformative, allowing developers to build next-generation applications that leverage real-time metals data.

One of the key advantages of Metals-API is its ability to provide historical rates dating back to 2019. This feature is particularly useful for traders who want to analyze past performance and make predictions based on historical trends. By appending a specific date to the API request, users can easily retrieve historical prices for gold and other metals.

Key Features of Metals-API

Metals-API offers a variety of endpoints that cater to different needs within the metals trading ecosystem. Here are some of the most notable features:

  • Latest Rates Endpoint: Depending on your subscription plan, this endpoint provides real-time exchange rate data updated every 60 minutes, every 10 minutes, or even more frequently. This allows traders to stay updated with the latest market movements.
  • Historical Rates Endpoint: Users can access historical rates for most currencies dating back to 2019. By appending a specific date to the API request, developers can retrieve historical prices for gold, enabling in-depth analysis of price trends over time.
  • Bid and Ask Endpoint: This powerful feature allows users to retrieve real-time bid and ask prices for gold and other metals, providing insights into market liquidity and trading opportunities.
  • Convert Endpoint: The Metals-API includes a currency conversion endpoint, allowing users to convert any amount from one metal to another or to/from USD. This is particularly useful for traders dealing in multiple currencies.
  • Time-Series Endpoint: This endpoint allows users to query the API for daily historical rates between two dates of their choice, facilitating comprehensive analysis of price movements over specific periods.
  • Fluctuation Endpoint: Users can track how currencies fluctuate on a day-to-day basis, providing valuable insights into market volatility and trends.
  • Carat Endpoint: This feature enables users to retrieve information about gold rates by carat, which is essential for jewelers and traders dealing in various purities of gold.
  • Lowest/Highest Price Endpoint: Users can query the API to get the lowest and highest price for gold over a specified period, aiding in market analysis and decision-making.
  • Open/High/Low/Close (OHLC) Price Endpoint: This endpoint provides users with open, high, low, and close prices for gold, offering a comprehensive view of market performance.
  • Historical LME Endpoint: Access historical rates for LME symbols dating back to 2008, which is crucial for traders focusing on industrial metals.
  • API Key: Each user is assigned a unique API key, which is essential for accessing the API and ensuring secure transactions.
  • API Response: The exchange rates delivered by Metals-API are by default relative to USD, ensuring consistency and reliability in data.
  • Available Endpoints: The API comes with a constantly updated list of all available currencies, making it easy for developers to find the information they need.
  • Gold Price India Endpoint: This dedicated endpoint allows users to retrieve the latest gold price in India, catering to a significant market segment.
  • News Endpoint: Users can access the latest news articles related to various metals, keeping them informed about market developments.

Understanding API Responses

When working with the Metals-API, understanding the structure of API responses is crucial for effective integration. Below are examples of JSON responses for various endpoints, along with explanations of each field:

Latest Rates Endpoint

{
    "success": true,
    "timestamp": 1744157125,
    "base": "USD",
    "date": "2025-04-09",
    "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"
}

In this response:

  • success: Indicates whether the API request was successful.
  • timestamp: The time at which the data was retrieved.
  • base: The base currency for the exchange rates.
  • date: The date for which the rates are applicable.
  • rates: An object containing the exchange rates for various metals.
  • unit: The unit of measurement for the rates provided.

Historical Rates Endpoint

{
    "success": true,
    "timestamp": 1744070725,
    "base": "USD",
    "date": "2025-04-08",
    "rates": {
        "XAU": 0.000485,
        "XAG": 0.03825,
        "XPT": 0.000915,
        "XPD": 0.000748
    },
    "unit": "per troy ounce"
}

This response provides historical rates for a specified date, allowing users to analyze past performance. The structure is similar to the latest rates endpoint, with the addition of a specific date for historical context.

Time-Series Endpoint

{
    "success": true,
    "timeseries": true,
    "start_date": "2025-04-02",
    "end_date": "2025-04-09",
    "base": "USD",
    "rates": {
        "2025-04-02": {
            "XAU": 0.000485,
            "XAG": 0.03825,
            "XPT": 0.000915
        },
        "2025-04-04": {
            "XAU": 0.000483,
            "XAG": 0.0382,
            "XPT": 0.000913
        },
        "2025-04-09": {
            "XAU": 0.000482,
            "XAG": 0.03815,
            "XPT": 0.000912
        }
    },
    "unit": "per troy ounce"
}

This endpoint allows users to retrieve exchange rates for a specific time period, providing valuable insights into trends and fluctuations over time.

Convert Endpoint

{
    "success": true,
    "query": {
        "from": "USD",
        "to": "XAU",
        "amount": 1000
    },
    "info": {
        "timestamp": 1744157125,
        "rate": 0.000482
    },
    "result": 0.482,
    "unit": "troy ounces"
}

The convert endpoint is particularly useful for traders who need to quickly convert amounts between different metals or currencies. The response includes the conversion rate and the result of the conversion.

Fluctuation Endpoint

{
    "success": true,
    "fluctuation": true,
    "start_date": "2025-04-02",
    "end_date": "2025-04-09",
    "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 endpoint tracks rate fluctuations between two dates, providing insights into market volatility and helping traders make informed decisions.

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

{
    "success": true,
    "timestamp": 1744157125,
    "base": "USD",
    "date": "2025-04-09",
    "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"
}

The OHLC endpoint provides a comprehensive view of market performance, allowing traders to analyze price movements throughout the trading day.

Bid/Ask Endpoint

{
    "success": true,
    "timestamp": 1744157125,
    "base": "USD",
    "date": "2025-04-09",
    "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 endpoint provides current bid and ask prices for metals, which is essential for traders looking to execute trades at optimal prices.

Practical Use Cases and Integration Strategies

Integrating Metals-API into your applications can unlock numerous opportunities for developers and traders. Here are some practical use cases:

  • Trading Platforms: Developers can build trading platforms that utilize real-time and historical data from Metals-API to provide users with comprehensive market insights and trading tools.
  • Investment Analysis Tools: By leveraging the historical rates endpoint, developers can create investment analysis tools that help users evaluate the performance of gold and other metals over time.
  • Market Research Applications: Researchers can utilize the API to gather data for market studies, analyzing trends and fluctuations in precious metals prices.
  • Portfolio Management Software: Integrating Metals-API can enhance portfolio management applications by providing real-time updates on metal prices, allowing users to make informed investment decisions.

Performance Optimization and Security Considerations

When integrating Metals-API, it is crucial to consider performance optimization and security best practices. Here are some strategies:

  • Rate Limiting: Be aware of the API's rate limits and implement caching strategies to minimize unnecessary requests, ensuring your application remains responsive.
  • Error Handling: Implement robust error handling mechanisms to gracefully manage API errors and provide users with meaningful feedback.
  • Data Validation: Always validate and sanitize data received from the API to prevent security vulnerabilities and ensure data integrity.
  • Secure API Key Management: Store your API key securely and avoid exposing it in client-side code to prevent unauthorized access.

Conclusion

Accessing historical prices for Coimbatore Gold (XAU-COIM) has been revolutionized by the capabilities of Metals-API. With its extensive range of features, including real-time rates, historical data, and various endpoints, developers can create powerful applications that leverage the latest in data analytics and technology integration. By understanding the API's structure and implementing best practices, developers can build innovative solutions that enhance trading efficiency and market insights.

For more information on how to get started with Metals-API, refer to the Metals-API Documentation and explore the Metals-API Supported Symbols for a comprehensive list of available metals. Embrace the digital transformation in precious metals trading and unlock the potential of real-time data with Metals-API.

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