Get Faridabad Gold 24k (FARI-24k) Historical Prices for Accurate Market Analysis with Metals-API

Get Faridabad Gold 24k (FARI-24k) Historical Prices for Accurate Market Analysis with Metals-API

In the ever-evolving landscape of precious metals trading, having access to accurate historical prices is crucial for making informed decisions. For developers and traders alike, the Metals-API offers a powerful solution to retrieve historical prices for gold and other metals, including the Faridabad Gold 24k (FARI-24k). This blog post will delve into the capabilities of the Metals-API, focusing on how to obtain historical prices and leverage this data for market analysis.

About Gold (XAU)

Gold, represented by the symbol XAU, has long been a cornerstone of wealth and investment. As a digital transformation sweeps through the financial sector, the integration of technology in precious metals trading is becoming increasingly vital. The Metals-API provides developers with the tools to harness data analytics and market insights, enabling them to create innovative applications that can revolutionize price discovery and trading strategies.

With the rise of digital asset solutions, understanding the historical prices of gold is essential for traders looking to capitalize on market fluctuations. The Metals-API allows users to access a wealth of historical data, empowering them to analyze trends and make data-driven decisions.

API Description

The Metals-API is a robust JSON API that provides real-time and historical data on various metals, including gold, silver, platinum, and palladium. It is designed to empower developers to build next-generation applications that require accurate metals data. The API's capabilities include retrieving the latest rates, historical prices, and various other functionalities that enhance trading strategies.

For developers, the Metals-API is a gateway to integrating real-time metals data into their applications. The API supports a variety of endpoints that cater to different needs, from accessing the latest rates to querying historical data dating back to 2019. This flexibility allows developers to create tailored solutions that meet the specific demands of their users.

Key Features and Endpoints

The Metals-API offers a range of endpoints, each designed to provide specific functionalities that can be utilized in various applications. Here are some of the key features:

Latest Rates Endpoint

The Latest Rates Endpoint provides real-time exchange rate data for metals, updated every 60 minutes, 10 minutes, or even more frequently, depending on your subscription plan. This endpoint is essential for traders who need to stay updated on the latest market conditions.

{
        "success": true,
        "timestamp": 1743656483,
        "base": "USD",
        "date": "2025-04-03",
        "rates": {
            "XAU": 0.000482,
            "XAG": 0.03815,
            "XPT": 0.000912,
            "XPD": 0.000744
        },
        "unit": "per troy ounce"
    }

Historical Rates Endpoint

For those looking to analyze past market trends, the Historical Rates Endpoint allows users to access historical rates for most currencies dating back to 2019. By appending a specific date to the API request, developers can retrieve valuable data for their analyses.

{
        "success": true,
        "timestamp": 1743570083,
        "base": "USD",
        "date": "2025-04-02",
        "rates": {
            "XAU": 0.000485,
            "XAG": 0.03825,
            "XPT": 0.000915,
            "XPD": 0.000748
        },
        "unit": "per troy ounce"
    }

Bid And Ask Endpoint

The Bid and Ask Endpoint is a powerful feature that enables users to retrieve real-time bid and ask prices for metals. This information is crucial for traders who need to make quick decisions based on current market conditions.

{
        "success": true,
        "timestamp": 1743656483,
        "base": "USD",
        "date": "2025-04-03",
        "rates": {
            "XAU": {
                "bid": 0.000481,
                "ask": 0.000483,
                "spread": 2.0e-6
            },
            "XAG": {
                "bid": 0.0381,
                "ask": 0.0382,
                "spread": 0.0001
            }
        },
        "unit": "per troy ounce"
    }

Convert Endpoint

The Convert Endpoint allows users to convert any amount from one metal to another or to/from USD. This feature is particularly useful for traders who need to quickly assess the value of their holdings in different currencies.

{
        "success": true,
        "query": {
            "from": "USD",
            "to": "XAU",
            "amount": 1000
        },
        "info": {
            "timestamp": 1743656483,
            "rate": 0.000482
        },
        "result": 0.482,
        "unit": "troy ounces"
    }

Time-Series Endpoint

The Time-Series Endpoint allows users to query the API for daily historical rates between two dates of their choice. This feature is invaluable for conducting trend analyses over specific periods.

{
        "success": true,
        "timeseries": true,
        "start_date": "2025-03-27",
        "end_date": "2025-04-03",
        "base": "USD",
        "rates": {
            "2025-03-27": {
                "XAU": 0.000485,
                "XAG": 0.03825
            },
            "2025-04-03": {
                "XAU": 0.000482,
                "XAG": 0.03815
            }
        },
        "unit": "per troy ounce"
    }

Fluctuation Endpoint

The Fluctuation Endpoint provides information about how currencies fluctuate on a day-to-day basis. This data is essential for traders looking to understand market volatility and make informed decisions.

{
        "success": true,
        "fluctuation": true,
        "start_date": "2025-03-27",
        "end_date": "2025-04-03",
        "base": "USD",
        "rates": {
            "XAU": {
                "start_rate": 0.000485,
                "end_rate": 0.000482,
                "change": -3.0e-6,
                "change_pct": -0.62
            }
        },
        "unit": "per troy ounce"
    }

Carat Endpoint

The Carat Endpoint allows users to retrieve information about gold rates by carat. This feature is particularly useful for jewelers and traders dealing in various purities of gold.

{
        "success": true,
        "timestamp": 1743656483,
        "base": "USD",
        "date": "2025-04-03",
        "rates": {
            "24K": 0.000482,
            "22K": 0.000441,
            "18K": 0.000367
        },
        "unit": "per troy ounce"
    }

Lowest/Highest Price Endpoint

The Lowest/Highest Price Endpoint allows users to query the API to get the lowest and highest price of metals over a specified period. This data is crucial for traders looking to identify market extremes.

{
        "success": true,
        "timestamp": 1743656483,
        "base": "USD",
        "date": "2025-04-03",
        "rates": {
            "XAU": {
                "lowest": 0.000481,
                "highest": 0.000487
            }
        },
        "unit": "per troy ounce"
    }

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

The Open/High/Low/Close (OHLC) Price Endpoint provides users with the open, high, low, and close prices for a specific time period. This data is essential for traders looking to analyze price movements and make informed trading decisions.

{
        "success": true,
        "timestamp": 1743656483,
        "base": "USD",
        "date": "2025-04-03",
        "rates": {
            "XAU": {
                "open": 0.000485,
                "high": 0.000487,
                "low": 0.000481,
                "close": 0.000482
            }
        },
        "unit": "per troy ounce"
    }

Historical LME Endpoint

The Historical LME Endpoint provides access to historical rates for LME symbols dating back to 2008. This endpoint is particularly useful for traders dealing with industrial metals.

{
        "success": true,
        "timestamp": 1743656483,
        "base": "USD",
        "date": "2025-04-03",
        "rates": {
            "XCU": 0.294118,
            "XAL": 0.434783
        },
        "unit": "per troy ounce"
    }

API Key and Authentication

To access the Metals-API, users must obtain an API key, which is a unique identifier passed into the API base URL's access_key parameter. This key is essential for authenticating requests and ensuring secure access to the API's features. Developers should keep their API keys confidential and implement best practices for security, such as rate limiting and error handling.

Performance Considerations and Optimization Strategies

When integrating the Metals-API into applications, developers should consider performance optimization strategies. This includes implementing caching mechanisms to reduce API calls, especially for frequently accessed data. Additionally, understanding the rate limits imposed by the API can help developers manage their requests effectively and avoid throttling.

Common Pitfalls and Troubleshooting Tips

Developers may encounter common pitfalls when working with the Metals-API, such as incorrect parameter values or exceeding rate limits. It is crucial to validate input data and handle errors gracefully. The API provides detailed error messages that can guide developers in troubleshooting issues.

Conclusion

The Metals-API is an invaluable resource for developers and traders seeking accurate historical prices for gold and other metals. By leveraging the API's extensive features, including real-time rates, historical data, and various endpoints, users can gain critical insights into market trends and make informed trading decisions. Whether you are building a trading application or conducting market analysis, the Metals-API provides the tools necessary to succeed in the dynamic world of precious metals trading.

For more information on how to get started, refer to the Metals-API Documentation and explore the Metals-API Supported Symbols for a comprehensive list of available metals. Visit the Metals-API Website to learn more about the capabilities and features that can enhance your trading strategies.