Question Summary: What is the correct method to determine the value of gold jewellery for Zakat payment? Method 1, 2 or else? Question Detail:
Subject: How to determine value of gold jewellery for Zakat payment. My wife possesses gold jewellery. Usually gold jewellery is made up of gold mixed with some other metal e.g. copper. In market, per unit cost of pure gold is different from gold jewellery. One method is that we get weighed the jewellery and estimate the cost using per unit cost of gold jewellery. The second method might be to take the jewellery to a jeweler and get estimated the amount of pure gold used in the jewellery. Then calculate the cost using per unit cost of pure gold. What is the correct method to determine the value of gold jewellery for Zakat payment? Method 1, 2 or else?
Answer :
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