Platinum Prices in the UAE

Platinum price in the UAE today

A gram of fine (999) platinum in the UAE is 182.31 AED right now, an ounce 5,670.34 AED and a kilo 182,305.66 AED. Platinum .950 costs 173.19 AED per gram because it contains only 95.0% pure metal.

The UAE dirham is pegged to the US dollar at a fixed 3.6725 dirhams per dollar, so platinum prices in AED move almost exactly with the dollar price.

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 AED exchange rate and the purity. Prices are indicative and exclude making charges or dealer margins.

Platinum purity grades in the UAE

• Fine platinum .999: 182.31 AED per gram — for bullion bars and coins.
• Platinum .950: 173.19 AED per gram — the usual standard for platinum jewellery, stamped PT950 or PLAT.
• Platinum .900: 164.08 AED 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 the UAE

• In the UAE, investment precious metals (gold, silver and platinum) of 99% purity or more are zero-rated for VAT, while jewellery is subject to 5% VAT.
• 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).