Requires detailWorship · Zakat
How do I calculate the value of my gold jewellery for Zakat?
The answer
According to the Hanafi school, all forms of gold and silver assets are Zakatable regardless if they are worn, stored or forms of investment.
In short: value the jewellery at what a jeweller would pay or its scrap gold value.
Explanation
To work out the value of your gold/silver jewellery, you need to figure out what it is currently worth. This can be done in one of the following ways:
- Visiting your local jeweller and finding out how much they would buy your jewellery for
- Searching the scrap value of the amount of gold you have online.
And Allah knows best.
Mufti Faraz Adam
Based on the Hanafi school and on the question as it was asked. Another mufti may reach a different conclusion. Read the disclaimer.