[werkeeque]

In regards to valuing gold in Asian Jewellery for the purpose of Zakat.

I have heard that Asian (in this case standard Kashmiri jewellery for weddings) tends to have a higher gold purity content then is used in UK jewellery.

Does anyone now what the gold content tends to be in this type of jewellery eg % gold.

I am just trying to get an estimate so any ideas appreciated.

[MexicoCity]

In India commonly used Gold for Jewellery is 22 Carat Gold.
Pure Gold is 24 Carat Gold.
22 Carat Gold is 22 parts of Gold and 2 parts of copper and silver.
18 Carat Gold is 18 parts of Gold and 6 parts of copper and silver. So on and so forth.

[werkeeque]

In India commonly used Gold for Jewellery is 22 Carat Gold.
Pure Gold is 24 Carat Gold.
22 Carat Gold is 22 parts of Gold and 2 parts of copper and silver.
18 Carat Gold is 18 parts of Gold and 6 parts of copper and silver. So on and so forth.

Jazakallah for that amr123

So that makes it 22/24 = 91.7% Gold

And I suppose that the Silver in the 2/24 = 8.3% has some value as well for Zakat purposes.

[MexicoCity]

Jazakallah for that amr123

So that makes it 22/24 = 91.7% Gold

And I suppose that the Silver in the 2/24 = 8.3% has some value as well for Zakat purposes.

Yes that would be 91.7% Gold. I do not know if one has to calculate separately. 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?

Well I don't know much about this, perhaps you can pose a query in the Hanafi Fiqh Q&A section. http://www.sunniforum.com/forum/foru...-A-Hanafi-Fiqh

[werkeeque]

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.

[MexicoCity]

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

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.

bro.

I have no idea about the Fiqh of this topic bro. We have our resident Mufti, Maulana Abu Hajira answering such Fiqh related Q&A in the Fiqh section: http://www.sunniforum.com/forum/foru...-A-Hanafi-Fiqh

Just post a new thread there and you will get an expert answer for your query .

May Allah accept your Zakat and give barakah in your rizq. ameen.
Remember me in your Duas too bro.

[werkeeque]

I have posted a thread in the Islam Q&A - Hanafi Fiqh forum, I am unable to post the link since the forum limits posting of URLs.

The thread is called Valuing gold for Zakat calculation - Average price or Period end price and it is thread number 88891.

As well as receiving answers to my query I was linked to Askimam Fatwa 17114 (again unable to post direct link), an important point is mentioned on that answer so I am reposting here

Any gold or silver items such as jewelry, ornaments etc will also form part of Zakatable assets. If the percentage of gold or silver in the item is more than the metal alloy with which it is amalgamated the entire item will be considered as gold or silver. If the percentage of alloy is greater, if there is enough gold or silver where it is possible for it to be extracted, then Zakāh will be compulsory only on the value of the gold or silver therein and not on the entire item if the Nisāb is reached.

So that means as long at the item is 12 Karat (eg 50% Gold being 12/24) or above the full weight is regarded as Gold (Hanafi fiqh), in my case all the Gold items I am quite sure are over 12 Karat gold since they are standard Indian subcontinent tailor made gold items and as the brother amr123 has mentioned

In India commonly used Gold for Jewellery is 22 Carat Gold.

amr123 for your help, I have resolved my queries regarding Zakat for myself and my family.

[Gugert]

The payment of zakat is one of the pillars of Islam.
Zakat is paid in the amount of 2.5 percent of a person's fortune in excess of the amount of nisab. Nisab, equal to the value of 84.8 grams of gold, is the minimum amount of the fortune from which you need to pay zakat. I just used this system to take products on the site https://segaljewellery.com/collections/black-diamond and I apologize in advance that I am leaving from the main topic, but I want to share my opinion. This is the best of all sites in this area: the design of the rings is at the highest level, prices are acceptable, the quality is just a masterpiece. I advise everyone to buy there, you will not regret it