Platinum Prices in Oman

Platinum price in Oman today

A gram of fine (999) platinum in Oman is 19.087 OMR right now, an ounce 593.663 OMR and a kilo 19,086.720 OMR. Platinum .950 costs 18.132 OMR per gram because it contains only 95.0% pure metal.

The Omani rial is pegged to the US dollar at about 0.3845 rials per dollar (one rial is roughly 2.6 dollars). Prices are shown to three decimals.

How we calculate these prices

We take the global price per ounce in dollars (1,544.00), divide by 31.1035 for the gram price, then multiply by the OMR exchange rate and the purity. Prices are indicative and exclude making charges or dealer margins.

Platinum purity grades in Oman

• Fine platinum .999: 19.087 OMR per gram — for bullion bars and coins.
• Platinum .950: 18.132 OMR per gram — the usual standard for platinum jewellery, stamped PT950 or PLAT.
• Platinum .900: 17.178 OMR per gram — also used in some jewellery.

What platinum is used for and what moves its price

Platinum is used in vehicle catalytic converters — especially diesel engines — jewellery, chemicals, glass-making and hydrogen fuel cells. Mining is concentrated in South Africa, which supplies roughly 70% of mined platinum, so mining and power news there moves the price.

Tips for buying platinum in Oman

• Platinum is denser than gold and does not corrode, but it develops a matte patina with wear that can be polished.
• Platinum bars and coins are less common than gold, so ask for the buy-back price before buying.
• Check the purity stamp on jewellery (PT950 or PT900).