JUG-2026-7W33M4EKWJ
Calculating zakat nisaab using local gold and silver market value
Question
When calculating the money value of the zakat nisaab, are we using the local market value of raw gold and sterling silver specifically?
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Answer
The money value of nisaab will be calculated using the local market value of gold or silver in the country. Yes, the market value of raw gold or silver will be taken into consideration. If you have gold or silver in the form of jewelry or otherwise, then the market value of that jewelry would also be taken into consideration when calculating zakat.
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