DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Valuing gold in Asian jewellery for Zakat calculation

**werkeeque** · 06-05-2012, 10:57 PM

Because if the Zakat is also given in 22K Gold then there won't be any issue. But I suppose one will have to calculate the exact value if one is giving in terms of Money?

Jazakallah amr123, I will be paying Zakat in cash which leads to my next question.

The price of Gold changes a few times a minute as such over a year it can and does fluctuate considerably for example the closing price for gold over approx a monthly period for the last year is below.

DATE PRICE £/Gram
25/06/2011 31.89
25/07/2011 35.82
24/08/2011 36.40
23/09/2011 33.09
23/10/2011 34.52
22/11/2011 33.10
22/12/2011 34.41
21/01/2012 35.13
20/02/2012 33.44
21/03/2012 32.87
20/04/2012 32.38
22/05/2012 31.96

AVERAGE 33.75

The average is higher at £33.75/gram then the last price of £31.96/gram.

For the purposes of Zakat would it be better to use the average price or the current price to work out the value to use for Zakat purposes.

06-05-2012, 10:57 PM	#5
werkeeque Join Date Oct 2005 Posts 577 Senior Member	Because if the Zakat is also given in 22K Gold then there won't be any issue. But I suppose one will have to calculate the exact value if one is giving in terms of Money? Jazakallah amr123, I will be paying Zakat in cash which leads to my next question. The price of Gold changes a few times a minute as such over a year it can and does fluctuate considerably for example the closing price for gold over approx a monthly period for the last year is below. DATE PRICE £/Gram 25/06/2011 31.89 25/07/2011 35.82 24/08/2011 36.40 23/09/2011 33.09 23/10/2011 34.52 22/11/2011 33.10 22/12/2011 34.41 21/01/2012 35.13 20/02/2012 33.44 21/03/2012 32.87 20/04/2012 32.38 22/05/2012 31.96 AVERAGE 33.75 The average is higher at £33.75/gram then the last price of £31.96/gram. For the purposes of Zakat would it be better to use the average price or the current price to work out the value to use for Zakat purposes.
	Quote