Platinum Price in UAE Dirhams (AED)
Track the live platinum price in UAE dirhams per troy ounce and per gram. AED is pegged to the US dollar, so the AED platinum price moves in direct proportion to the international spot price.
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Platinum in the UAE Market
The UAE dirham is pegged to the US dollar at AED 3.6725 per USD, eliminating currency risk for platinum investors. Platinum is less commonly traded than gold in the UAE but is available through specialist dealers.
- AED/USD peg: fixed at 3.6725 -- no currency fluctuation risk
- No income tax or capital gains tax in the UAE
- Platinum is available through specialist bullion dealers in Dubai
- VAT treatment of platinum follows precious metals rules
- DGCX provides a platform for platinum-related trading
- Platinum jewelry is available in Dubai's Gold Souk and luxury retailers
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Frequently Asked Questions
How is platinum priced in AED?
The platinum price in AED is calculated by multiplying the international USD spot price by the fixed AED/USD exchange rate of 3.6725. Because the UAE dirham is pegged to the US dollar, there is no currency fluctuation risk, and the AED platinum price moves in direct, predictable proportion to the global spot price. This makes it straightforward for UAE investors to track and compare platinum prices internationally without worrying about exchange rate volatility.
Is platinum tax-free in Dubai?
The UAE does not impose any income tax or capital gains tax, which means profits from buying and selling platinum are not subject to these taxes. However, VAT at 5% may apply to platinum purchases depending on the form and purity. Investment-grade precious metals may qualify for preferential VAT treatment under UAE tax regulations. The absence of income and capital gains taxes makes Dubai an attractive jurisdiction for precious metals investment overall.
Where can I buy platinum in Dubai?
Platinum can be purchased in Dubai through specialist bullion dealers who stock platinum bars and coins from internationally recognised refiners. While the famous Gold Souk in Deira is primarily focused on gold jewelry, some retailers there also carry platinum jewelry and products. Luxury retailers and high-end jewelers across Dubai offer platinum jewelry. For investment-grade platinum bars and coins, specialist precious metals dealers are the most reliable source, offering products from LPPM-accredited refiners with full certification.
How does platinum compare to gold in the UAE?
Gold is by far the dominant precious metal in the UAE market, deeply embedded in the culture and widely traded through the Gold Souk, banks, and major dealers. Platinum, by contrast, occupies a much smaller niche. However, platinum offers diversification benefits for UAE investors who already hold gold, as its price is driven by different supply and demand factors, particularly industrial demand from the automotive and hydrogen fuel cell sectors. Platinum's relative undervaluation compared to gold has also attracted interest from value-oriented investors looking for precious metals exposure beyond gold.