Platinum market chart
Historical benchmark in AED per troy ounce; weight conversions are shown in the tables.
Platinum Price Chart in AED per Pennyweight
Live platinum price history in UAE Dirham (AED) per pennyweight. Toggle 24H, 7D, 30D, and 1Y ranges to analyze platinum trends.
Quick Calculator
Calculate platinum value
= 1.5552 grams
= 0.050000 troy ounces
Price per dwt: —
Platinum price by currency
Fine platinum per pennyweight · current exchange rates
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Japanese Yen
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Taiwan Dollar
Platinum price by weight
| Weight | Grams | Spot value (AED) |
|---|---|---|
| Troy Ounce | 31.1035 | — |
| Gram | 1 | — |
| Kilogram | 1000 | — |
| Pennyweight | 1.55517 | — |
| Tola | 11.6638 | — |
| Tael (Hong Kong) | 37.429 | — |
| Tael (Shanghai / Mainland China) | 50 | — |
| Tael (Taiwan) | 37.5 | — |
| Grain | 0.0648 | — |
| Momme | 3.75 | — |
| Baht | 15.244 | — |
| Chi | 3.75 | — |
| Don | 3.75 | — |
| Mesghal | 4.6875 | — |
What is a Pennyweight? Platinum weight, conversions and local use
Definition. The pennyweight (1.55517 g, one twentieth of a troy ounce) is the unit American jewellers and scrap buyers still quote in. One pennyweight equals 1.55517 grams, or 0.05000 troy ounces, which at today's platinum spot price works out to — AED.
Where it is used. Repair work, casting weights and scrap gold offers in the US are almost always priced per pennyweight rather than per gram. The unit is the trading standard in United States jewellery trade.
Pricing conventions. A scrap buyer quoting per dwt is quoting on a unit roughly 1.5 times a gram, so always convert before comparing with an online per-gram offer. Platinum has almost no traditional-unit retail market: it is quoted per ounce or per gram, and this conversion is mainly used for jewellery weighing and industrial stock.
Good to know. The name survives from the medieval English penny, which literally weighed one pennyweight of silver.
Platinum price per Pennyweight in AED — quick conversion table
| Quantity | Grams | Troy ounces | Value (AED) |
|---|---|---|---|
| 1 pennyweight | 1.555 g | 0.0500 oz t | — |
| 5 pennyweights | 7.776 g | 0.2500 oz t | — |
| 10 pennyweights | 15.552 g | 0.5000 oz t | — |
| 100 pennyweights | 155.517 g | 5.0000 oz t | — |
Values are calculated from the live XPT spot price converted into UAE Dirham and refresh with the price above.
Buying Platinum in UAE: local market, taxes and premiums
At the live price shown above per pennyweight, the price you see here is the international XPT spot price converted into UAE Dirham. Physical buyers in UAE pay that reference plus a premium, and local trading is concentrated around Dubai's Gold Souk and the DMCC free zone. Buyers there generally watch the Dubai Gold & Commodities Exchange rate published each morning as the day's reference.
Taxes and duties. Jewellery and lower-purity items carry 5% VAT, though jewellers often absorb part of it in the making charge. Platinum is a much smaller market driven by autocatalyst and jewellery demand, so local availability is patchier and dealer spreads wider. That is why the shop price of platinum in AED can sit noticeably above the spot value of the same pennyweight of metal.
How people usually buy. The common routes in UAE are Gold Souk retailers, DMCC-licensed dealers, Emirates Gold and Kaloti refiners and airport duty-free counters. The products most often quoted locally include 22K and 24K jewellery, tola bars, 1 oz coins, 1 kg bars.
Local conventions. Dubai jewellery is sold at the daily Dubai Gold Rate plus a transparent making charge, and the tola bar remains popular with South Asian buyers. Before you buy, compare the dealer's asking price per pennyweight with the live platinum price above, and check the buy-back spread the same dealer offers — that round-trip cost matters more than a small difference in the headline AED quote.
Market information only, updated with live prices. Not tax or investment advice; tax rules in UAE can change.
Other Precious Metals in AED
Compare prices across different precious metals
About Platinum Price in AED
What is Platinum?
Platinum is a dense, malleable, ductile, highly unreactive, precious, silverish-white transition metal. It is one of the rarer elements in Earth's crust.
History
Platinum was used by pre-Columbian Americans near modern-day Esmeraldas, Ecuador. The first European reference to platinum appears in 1557.
Common Uses
Interesting Facts
- •Platinum is 30 times rarer than gold
- •About 70% of platinum production goes to catalytic converters
- •South Africa produces about 70% of the world's platinum
Platinum Price Per Pennyweight in UAE Dirham
The current platinum price per pennyweight in UAE Dirham (AED) is updated in real-time based on international market rates. Platinum is traded globally and its price fluctuates based on supply and demand, economic conditions, and geopolitical factors.
When buying or selling platinum in UAE, it's important to understand that prices are typically quoted in troy ounces on international markets. Our converter helps you easily calculate the price in pennyweights, which may be more practical for local transactions.
The pennyweight is a unit of mass equal to 24 grains, 1/20 of a troy ounce. This unit is commonly used when trading platinum in various markets around the world.
Platinum Long-Term Returns vs Current AED Price
How platinum has performed over 1, 5, 10, and 20 years against today's spot price (USD/oz). Useful for UAE investors tracking platinum in AED.
| Period | Start date | Price then | Return |
|---|
Historical prices are approximate annual averages, interpolated between anchor years (1980–2026).
Platinum price in AED – FAQ
How much does one ounce of platinum cost in AED today?
One troy ounce of platinum currently costs approximately the live spot price shown on this page. This live spot price is refreshed every 5 minutes from MetalflowAPI market data and reflects the international XPT/AED rate.
What is the current platinum rate in UAE today?
The current platinum rate in UAE is the live spot price shown on this page per pennyweight. Prices refresh every 5 minutes and follow the international Platinum spot price converted to UAE Dirham.
How much is 1 pennyweight of platinum in AED?
1 pennyweight of platinum equals the live spot price shown on this page today. This is calculated from the live spot price per troy ounce, converted via the AED exchange rate (1 pennyweight = 1.55517 grams).
How is the platinum price per pennyweight calculated?
The platinum price per pennyweight is calculated by converting the international spot price (quoted per troy ounce in USD) to AED using the current exchange rate, then converting to the pennyweight weight unit (1 pennyweight = 1.55517 grams).
Do I pay tax or VAT when buying platinum in UAE?
Jewellery and lower-purity items carry 5% VAT, though jewellers often absorb part of it in the making charge. Always confirm the current rule with the dealer, because the tax treatment changes the real cost per pennyweight more than small differences in the AED spot quote.
Where do people usually buy platinum in UAE?
The usual routes are Gold Souk retailers, DMCC-licensed dealers, Emirates Gold and Kaloti refiners, airport duty-free counters. Local trading is centred on Dubai's Gold Souk and the DMCC free zone, and the products most often quoted are 22K and 24K jewellery, tola bars, 1 oz coins, 1 kg bars.
Why is the shop price of platinum higher than the spot price in AED?
Retail prices add a dealer premium covering refining, minting, shipping, insurance and margin, plus any local tax. Platinum is a much smaller market driven by autocatalyst and jewellery demand, so local availability is patchier and dealer spreads wider. Compare the asking price per pennyweight with the live spot value above, and check the dealer's buy-back spread.
Which price reference does the UAE platinum market follow?
Local buyers generally follow the Dubai Gold & Commodities Exchange rate published each morning, converted into UAE Dirham (AED). Dubai jewellery is sold at the daily Dubai Gold Rate plus a transparent making charge, and the tola bar remains popular with South Asian buyers.