Get Lucknow Gold 24k (LUCK-24k) Historical Prices with Metals-API

Get Lucknow Gold 24k (LUCK-24k) Historical Prices with Metals-API

In the world of precious metals, gold stands as a symbol of wealth and stability. For those interested in tracking the historical prices of gold, particularly the 24k variant known as LUCK-24k, the Metals-API offers an innovative solution. This powerful API provides developers with real-time and historical data on gold prices, enabling them to create applications that can analyze market trends, perform data analytics, and integrate seamlessly with trading platforms. In this blog post, we will explore the capabilities of Metals-API, focusing on how to retrieve historical prices for gold and other precious metals.

About Gold (XAU)

Gold, represented by the symbol XAU, is not just a commodity; it is a digital asset that has undergone a transformation in the way it is traded and analyzed. The digital transformation in precious metals has led to the integration of data analytics and market insights, allowing traders and investors to make informed decisions based on real-time data. With the advent of technology, the trading of gold has become more efficient, with innovations in price discovery and digital asset solutions paving the way for a new era in precious metals trading.

Metals-API Overview

The Metals-API is a comprehensive JSON API that provides access to a wide range of metals data, including gold, silver, platinum, and palladium. It empowers developers to build next-generation applications that can leverage real-time metals data for various purposes, such as investment analysis, market forecasting, and trading strategies. The API is designed to be user-friendly and offers extensive documentation to help developers get started quickly.

Key Features and Endpoints

One of the standout features of Metals-API is its ability to provide various endpoints that cater to different needs. Below, we will delve into some of the key endpoints and their functionalities:

Latest Rates Endpoint

The Latest Rates endpoint allows users to retrieve real-time exchange rate data for precious metals. Depending on your subscription plan, this endpoint can return data updated every 60 minutes, every 10 minutes, or even more frequently. This feature is crucial for traders who need to stay updated on market fluctuations.

{
        "success": true,
        "timestamp": 1743220875,
        "base": "USD",
        "date": "2025-03-29",
        "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 performance, the Historical Rates endpoint provides access to historical exchange rates dating back to 2019. By appending a specific date to the API request, users can obtain historical data for any given day, which is essential for trend analysis and forecasting.

{
        "success": true,
        "timestamp": 1743134475,
        "base": "USD",
        "date": "2025-03-28",
        "rates": {
            "XAU": 0.000485,
            "XAG": 0.03825,
            "XPT": 0.000915
        },
        "unit": "per troy ounce"
    }

Bid and Ask Endpoint

The Bid and Ask endpoint is a powerful feature that allows users to retrieve real-time bid and ask prices for metals. This information is vital for traders looking to make quick decisions based on current market conditions.

{
        "success": true,
        "timestamp": 1743220875,
        "base": "USD",
        "date": "2025-03-29",
        "rates": {
            "XAU": {
                "bid": 0.000481,
                "ask": 0.000483,
                "spread": 2.0e-6
            }
        },
        "unit": "per troy ounce"
    }

Convert Endpoint

The Convert endpoint allows users to convert any amount from one currency to another, including conversions between different metals. This feature is particularly useful for traders who operate in multiple currencies and need to quickly assess the value of their holdings.

{
        "success": true,
        "query": {
            "from": "USD",
            "to": "XAU",
            "amount": 1000
        },
        "info": {
            "timestamp": 1743220875,
            "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 essential for analyzing trends over specific periods and can be used to generate reports or visualizations.

{
        "success": true,
        "timeseries": true,
        "start_date": "2025-03-22",
        "end_date": "2025-03-29",
        "base": "USD",
        "rates": {
            "2025-03-22": {
                "XAU": 0.000485
            },
            "2025-03-29": {
                "XAU": 0.000482
            }
        },
        "unit": "per troy ounce"
    }

Fluctuation Endpoint

The Fluctuation endpoint provides information about how currencies fluctuate on a day-to-day basis. This feature is particularly useful for traders who want to understand the volatility of the market and make informed decisions.

{
        "success": true,
        "fluctuation": true,
        "start_date": "2025-03-22",
        "end_date": "2025-03-29",
        "base": "USD",
        "rates": {
            "XAU": {
                "start_rate": 0.000485,
                "end_rate": 0.000482,
                "change": -3.0e-6,
                "change_pct": -0.62
            }
        },
        "unit": "per troy ounce"
    }

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

The OHLC Price endpoint allows users to retrieve the open, high, low, and close prices for a specific time period. This data is crucial for technical analysis and helps traders identify trends and potential entry or exit points.

{
        "success": true,
        "timestamp": 1743220875,
        "base": "USD",
        "date": "2025-03-29",
        "rates": {
            "XAU": {
                "open": 0.000485,
                "high": 0.000487,
                "low": 0.000481,
                "close": 0.000482
            }
        },
        "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 for a specific date. This feature is useful for traders looking to understand market extremes and make strategic decisions based on historical data.

{
        "success": true,
        "timestamp": 1743220875,
        "base": "USD",
        "date": "2025-03-29",
        "rates": {
            "XAU": {
                "lowest": 0.000481,
                "highest": 0.000487
            }
        },
        "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 those interested in the London Metal Exchange and its historical pricing data.

{
        "success": true,
        "timestamp": 1743134475,
        "base": "USD",
        "date": "2025-03-28",
        "rates": {
            "XAU": 0.000485
        },
        "unit": "per troy ounce"
    }

API Key and Authentication

To access the Metals-API, users must obtain an API key, which is passed into the API base URL's access_key parameter. This key is essential for authentication and ensures that only authorized users can access the data. Developers should keep their API keys secure and avoid exposing them in public repositories.

Understanding API Responses

The API responses delivered by Metals-API are by default relative to USD. Each response contains a success flag, a timestamp, the base currency, and the rates for the requested metals. Understanding these fields is crucial for developers to effectively utilize the API and integrate it into their applications.

Common Use Cases and Integration Strategies

Metals-API can be integrated into various applications, including trading platforms, investment analysis tools, and market research applications. Developers can leverage the API to build dashboards that display real-time prices, historical trends, and market insights. Additionally, the API can be used to automate trading strategies based on predefined criteria, allowing for more efficient trading operations.

Performance Optimization and Security Considerations

When integrating Metals-API into applications, developers should consider performance optimization strategies such as caching frequently accessed data to reduce API calls and improve response times. Additionally, implementing security best practices, such as rate limiting and data validation, is essential to protect against potential vulnerabilities.

Conclusion

The Metals-API provides a robust solution for developers looking to access historical prices and real-time data for gold and other precious metals. By leveraging its various endpoints, developers can create innovative applications that enhance trading strategies, perform in-depth market analysis, and provide valuable insights into the precious metals market. 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. The future of trading and investment in precious metals is here, and with Metals-API, developers have the tools they need to succeed.