Fatwa

Zakat on gold

Question

If I have 45grams of mixed gold 18k and 21k then is zakat wajib

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

The nisaab of gold is 87.479g and the nisaab of silver is 612.36g. If one possesses only gold and nothing else in the form of cash, silver or stock for trade, then the nisaab of gold will be applied. Accordingly, if you only possess 45g of gold, and nothing else, then Zakat is not due.

However, if you possess 45g of gold as well as other Zakatable assets such as silver, cash or stock for trade, then if your combined Zakatable assets equate to the value of the silver nisaab, Zakat will be due.

Keeping the above in mind, in principle, any item which is dominantly gold i.e. 12k or above, will be considered to be a Zakatable asset i.e. pure gold. Therefore, Zakat will be due on 45 grams of gold, taking the global price of gold per gram, even though the karat fluctuates in each piece.

For more information on how to calculate Zakat, refer to the link below.

https://daruliftaazambia.com/fatwa/?id=195

And Allah Ta’āla Knows Best

Mufti Bilal Pandor

Concurred by
Mufti Nabeel Valli

Darul Iftaa Mahmudiyyah
Lusaka, Zambia

www.daruliftaazambia.com