Platinum market chart
Historical benchmark in SAR per troy ounce; weight conversions are shown in the tables.
Platinum Price Chart in SAR per Pennyweight
Live platinum price history in Saudi Riyal (SAR) 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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Canadian Dollar
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Indian Rupee
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Chinese Yuan
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Singapore Dollar
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Hong Kong Dollar
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UAE Dirham
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Saudi Riyal
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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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Swedish Krona
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Norwegian Krone
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Danish Krone
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Taiwan Dollar
Platinum price by weight
| Weight | Grams | Spot value (SAR) |
|---|---|---|
| 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 — SAR.
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 SAR — quick conversion table
| Quantity | Grams | Troy ounces | Value (SAR) |
|---|---|---|---|
| 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 Saudi Riyal and refresh with the price above.
Buying Platinum in Saudi Arabia: 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 Saudi Riyal. Physical buyers in Saudi Arabia pay that reference plus a premium, and local trading is concentrated around Riyadh and Jeddah gold markets. Buyers there generally watch the LBMA price converted at the fixed SAR/USD peg as the day's reference.
Taxes and duties. Jewellery and non-investment metal carry the full 15% VAT, making bullion the cheaper way to hold weight. 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 SAR can sit noticeably above the spot value of the same pennyweight of metal.
How people usually buy. The common routes in Saudi Arabia are licensed gold souq retailers, bank bullion services, online GCC dealers and regional refiners. The products most often quoted locally include 21K jewellery, 1 oz coins, 100 g and 1 kg bars.
Local conventions. 21K (875) gold dominates Saudi jewellery, and the riyal's dollar peg means local prices track the USD gold price almost exactly. 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 SAR quote.
Market information only, updated with live prices. Not tax or investment advice; tax rules in Saudi Arabia can change.
Other Precious Metals in SAR
Compare prices across different precious metals
About Platinum Price in SAR
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 Saudi Riyal
The current platinum price per pennyweight in Saudi Riyal (SAR) 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 Saudi Arabia, 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 SAR Price
How platinum has performed over 1, 5, 10, and 20 years against today's spot price (USD/oz). Useful for Saudi Arabia investors tracking platinum in SAR.
| Period | Start date | Price then | Return |
|---|
Historical prices are approximate annual averages, interpolated between anchor years (1980–2026).
Platinum price in SAR – FAQ
How much does one ounce of platinum cost in SAR 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/SAR rate.
What is the current platinum rate in Saudi Arabia today?
The current platinum rate in Saudi Arabia 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 Saudi Riyal.
How much is 1 pennyweight of platinum in SAR?
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 SAR 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 SAR 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 Saudi Arabia?
Jewellery and non-investment metal carry the full 15% VAT, making bullion the cheaper way to hold weight. Always confirm the current rule with the dealer, because the tax treatment changes the real cost per pennyweight more than small differences in the SAR spot quote.
Where do people usually buy platinum in Saudi Arabia?
The usual routes are licensed gold souq retailers, bank bullion services, online GCC dealers, regional refiners. Local trading is centred on Riyadh and Jeddah gold markets, and the products most often quoted are 21K jewellery, 1 oz coins, 100 g and 1 kg bars.
Why is the shop price of platinum higher than the spot price in SAR?
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 Saudi Arabia platinum market follow?
Local buyers generally follow the LBMA price converted at the fixed SAR/USD peg, converted into Saudi Riyal (SAR). 21K (875) gold dominates Saudi jewellery, and the riyal's dollar peg means local prices track the USD gold price almost exactly.