How is zakaat on gold calculated?

“If a gold watch was purchased with the definite intention of trading in it (reselling), then Zakah will be obligatory on its market value, regardless of whether the gold content is predominant or not, because it falls under the category of trade merchandise.”

“Tell your wife to sell part of the gold and pay the zakaat of the gold for all the years which she did not discharge her zakaat on the gold. The value of the gold of each year will be looked at and then 2,5 % of the value of the gold will be given in zakaat to the poor.”

“To calculate the zakat of the gold, you will need to establish the weight of 22 carats in grams at a jeweller. The same applies to the silver ring. Thereafter, determine the current price of gold and silver per gram. The price of each gram of gold and silver will then be multiplied by the total number of grams respectively.”

“In principle, one will have to discharge the Zakaat on gold and silver jewellery only. The nisaab of Zakaah for gold is 87.48 grams, and the nisaab of silver is 612.36 grams.”