Retrieve Raipur Gold 24k (RAIP-24k) Historical Prices using Metals-API

Retrieve Raipur Gold 24k (RAIP-24k) Historical Prices using Metals-API

In the ever-evolving landscape of precious metals trading, the ability to access historical prices is crucial for informed decision-making. For developers and traders alike, the Metals-API offers a robust solution for retrieving historical prices of gold, specifically the Raipur Gold 24k (RAIP-24k). This blog post will delve into the intricacies of the Metals-API, focusing on how to effectively retrieve historical prices and leverage the API's capabilities to enhance trading strategies.

About Gold (XAU)

Gold, represented by the symbol XAU, has long been a cornerstone of wealth and investment. Its digital transformation has been remarkable, with technology playing a pivotal role in how traders and investors interact with this precious metal. The integration of data analytics and market insights has revolutionized the trading landscape, allowing for more informed decisions based on real-time data.

As the market for gold continues to evolve, the importance of innovation in price discovery cannot be overstated. The emergence of digital asset solutions has made it easier for traders to access gold prices, track fluctuations, and make timely decisions. This is where the Metals-API shines, providing developers with the tools necessary to build next-generation applications that can harness the power of real-time metals data.

API Description

The Metals-API is designed to empower developers by providing comprehensive access to metals pricing data. With its innovative architecture, the API allows for seamless integration into various applications, enabling users to retrieve real-time and historical data with ease. The transformative potential of this API lies in its ability to deliver accurate and timely information, which is essential for traders looking to optimize their strategies.

One of the standout features of the Metals-API is its extensive documentation, which can be found at Metals-API Documentation. This resource provides detailed information on how to use the API effectively, including endpoint descriptions, parameter specifications, and example responses.

Key Features and Endpoints

The Metals-API offers a variety of endpoints that cater to different needs within the metals trading community. Each endpoint serves a unique purpose, allowing users to access specific types of data. Here are some of the key features:

  • Latest Rates Endpoint: Depending on your subscription plan, this endpoint returns real-time exchange rate data updated every 60 minutes, every 10 minutes, or even more frequently. This is essential for traders who need the most current pricing information to make informed decisions.
  • Historical Rates Endpoint: Historical rates are available for most currencies dating back to 2019. By appending a specific date to the API call, users can retrieve historical prices for gold and other metals, allowing for comprehensive analysis of price trends over time.
  • Bid And Ask Endpoint: This powerful feature enables users to retrieve real-time bid and ask prices, which are crucial for understanding market dynamics and making trading decisions.
  • 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, providing a clear picture of price movements over a specified period.
  • Fluctuation Endpoint: Users can track how prices fluctuate on a day-to-day basis, which is essential for understanding market volatility and making strategic decisions.
  • Carat Endpoint: This feature allows users to retrieve information about gold rates by carat, which is particularly useful for jewelers and consumers interested in specific gold qualities.
  • Lowest/Highest Price Endpoint: Users can query the API to get the lowest and highest prices for a specified date, which is vital for identifying price extremes.
  • Open/High/Low/Close (OHLC) Price Endpoint: This endpoint provides users with the open, high, low, and close prices for a specific date, allowing for detailed analysis of price movements.
  • Historical LME Endpoint: For those interested in LME symbols, this endpoint provides historical rates dating back to 2008, offering a wealth of data for analysis.
  • API Key: Each user is assigned a unique API key, which is essential for accessing the API's features. This key must be included in the API base URL's access_key parameter.
  • API Response: The Metals-API delivers exchange rates relative to USD by default, ensuring consistency in data interpretation.
  • Available Endpoints: The API comes with a comprehensive list of endpoints, each providing different functionalities, which can be explored in detail in the documentation.
  • Supported Symbols Endpoint: This endpoint returns all available currencies, allowing users to stay updated on the latest symbols supported by the API.
  • Gold Price India Endpoint: Users can retrieve the latest gold price in India using this dedicated endpoint, which is particularly useful for traders in the Indian market.
  • News Endpoint: The Metals-API allows users to retrieve the latest news articles related to various metals, keeping traders informed about market developments.

List of Symbols

The Metals-API provides access to a comprehensive range of metal symbols. For a complete list of all supported symbols and their specifications, refer to the Metals-API Supported Symbols page. This resource is invaluable for developers looking to integrate specific metals into their applications.

API Endpoint Examples and Responses

Understanding the API responses is crucial for effective implementation. Here are some examples of the various endpoints and their corresponding JSON responses:

Latest Rates Endpoint

{
    "success": true,
    "timestamp": 1742529672,
    "base": "USD",
    "date": "2025-03-21",
    "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"
}

The response indicates a successful request, providing the latest rates for various metals, including gold (XAU). The timestamp and base currency are also included, ensuring clarity in the data provided.

Historical Rates Endpoint

{
    "success": true,
    "timestamp": 1742443272,
    "base": "USD",
    "date": "2025-03-20",
    "rates": {
        "XAU": 0.000485,
        "XAG": 0.03825,
        "XPT": 0.000915,
        "XPD": 0.000748
    },
    "unit": "per troy ounce"
}

This endpoint allows users to access historical rates for a specific date, providing valuable insights into past market behavior.

Time-series Endpoint

{
    "success": true,
    "timeseries": true,
    "start_date": "2025-03-14",
    "end_date": "2025-03-21",
    "base": "USD",
    "rates": {
        "2025-03-14": {
            "XAU": 0.000485,
            "XAG": 0.03825,
            "XPT": 0.000915
        },
        "2025-03-16": {
            "XAU": 0.000483,
            "XAG": 0.0382,
            "XPT": 0.000913
        },
        "2025-03-21": {
            "XAU": 0.000482,
            "XAG": 0.03815,
            "XPT": 0.000912
        }
    },
    "unit": "per troy ounce"
}

The time-series endpoint provides a detailed view of price movements over a specified period, allowing for trend analysis and forecasting.

Convert Endpoint

{
    "success": true,
    "query": {
        "from": "USD",
        "to": "XAU",
        "amount": 1000
    },
    "info": {
        "timestamp": 1742529672,
        "rate": 0.000482
    },
    "result": 0.482,
    "unit": "troy ounces"
}

This endpoint is particularly useful for traders who need to convert amounts between different metals or currencies, providing a straightforward way to understand value in terms of gold.

Fluctuation Endpoint

{
    "success": true,
    "fluctuation": true,
    "start_date": "2025-03-14",
    "end_date": "2025-03-21",
    "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"
}

Understanding fluctuations is essential for traders looking to capitalize on market movements. This endpoint provides a clear picture of how prices have changed over time.

OHLC (Open/High/Low/Close) Endpoint

{
    "success": true,
    "timestamp": 1742529672,
    "base": "USD",
    "date": "2025-03-21",
    "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 critical data for technical analysis, allowing traders to assess market conditions and make informed decisions based on historical price movements.

Bid/Ask Endpoint

{
    "success": true,
    "timestamp": 1742529672,
    "base": "USD",
    "date": "2025-03-21",
    "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 is essential for traders looking to understand the current market conditions, providing insight into the bid-ask spread and helping to inform trading strategies.

Conclusion

In conclusion, the Metals-API offers a comprehensive suite of tools for developers and traders looking to access historical prices and real-time data for precious metals like gold. By leveraging the various endpoints available, users can gain valuable insights into market trends, fluctuations, and pricing dynamics. The ability to retrieve historical prices for Raipur Gold 24k (RAIP-24k) through the Metals-API empowers traders to make informed decisions based on accurate data.

For further exploration of the API's capabilities, developers are encouraged to visit the Metals-API Documentation for detailed information on implementation and usage. Additionally, the Metals-API Supported Symbols page provides a comprehensive list of available symbols, ensuring that users can access the data they need for their specific trading strategies.

As the market for precious metals continues to evolve, staying informed and utilizing advanced tools like the Metals-API will be essential for success in trading. Embrace the digital transformation in precious metals trading and unlock the potential of real-time data to enhance your trading strategies.

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