Platinum market chart
Historical benchmark in MYR per troy ounce; weight conversions are shown in the tables.
Platinum Price Chart in MYR per Pennyweight
Live platinum price history in Malaysian Ringgit (MYR) 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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US Dollar
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Euro
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British Pound
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Japanese Yen
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Swiss Franc
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Australian Dollar
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Mexican Peso
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Brazilian Real
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South Korean Won
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South African Rand
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Russian Ruble
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Turkish Lira
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Polish Zloty
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Thai Baht
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Malaysian Ringgit
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Indonesian Rupiah
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Philippine Peso
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New Zealand Dollar
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Danish Krone
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Taiwan Dollar
Platinum price by weight
| Weight | Grams | Spot value (MYR) |
|---|---|---|
| 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 — MYR.
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 MYR — quick conversion table
| Quantity | Grams | Troy ounces | Value (MYR) |
|---|---|---|---|
| 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 Malaysian Ringgit and refresh with the price above.
Buying Platinum in Malaysia: 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 Malaysian Ringgit. Physical buyers in Malaysia pay that reference plus a premium, and local trading is concentrated around Kuala Lumpur, with Poh Kong and Habib the largest retail chains. Buyers there generally watch the Bank Negara Kijang Emas price in ringgit as the day's reference.
Taxes and duties. Silver, platinum and palladium are freely traded with no consumption tax, though liquidity is much thinner. 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 MYR can sit noticeably above the spot value of the same pennyweight of metal.
How people usually buy. The common routes in Malaysia are Poh Kong and Habib outlets, bank gold investment accounts (GIA), online dealers and Islamic gold accounts. The products most often quoted locally include Kijang Emas coins, 1 g to 100 g bars, 916 jewellery.
Local conventions. 916 (22K) jewellery dominates retail and Shariah-compliant gold accounts must settle on a spot basis under BNM rules. 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 MYR quote.
Market information only, updated with live prices. Not tax or investment advice; tax rules in Malaysia can change.
Other Precious Metals in MYR
Compare prices across different precious metals
About Platinum Price in MYR
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 Malaysian Ringgit
The current platinum price per pennyweight in Malaysian Ringgit (MYR) 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 Malaysia, 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 MYR Price
How platinum has performed over 1, 5, 10, and 20 years against today's spot price (USD/oz). Useful for Malaysia investors tracking platinum in MYR.
| Period | Start date | Price then | Return |
|---|
Historical prices are approximate annual averages, interpolated between anchor years (1980–2026).
Platinum price in MYR – FAQ
How much does one ounce of platinum cost in MYR 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/MYR rate.
What is the current platinum rate in Malaysia today?
The current platinum rate in Malaysia 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 Malaysian Ringgit.
How much is 1 pennyweight of platinum in MYR?
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 MYR 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 MYR 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 Malaysia?
Silver, platinum and palladium are freely traded with no consumption tax, though liquidity is much thinner. Always confirm the current rule with the dealer, because the tax treatment changes the real cost per pennyweight more than small differences in the MYR spot quote.
Where do people usually buy platinum in Malaysia?
The usual routes are Poh Kong and Habib outlets, bank gold investment accounts (GIA), online dealers, Islamic gold accounts. Local trading is centred on Kuala Lumpur, with Poh Kong and Habib the largest retail chains, and the products most often quoted are Kijang Emas coins, 1 g to 100 g bars, 916 jewellery.
Why is the shop price of platinum higher than the spot price in MYR?
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 Malaysia platinum market follow?
Local buyers generally follow the Bank Negara Kijang Emas price in ringgit, converted into Malaysian Ringgit (MYR). 916 (22K) jewellery dominates retail and Shariah-compliant gold accounts must settle on a spot basis under BNM rules.