Prayers & Duties >> Zakat & Charity

Question ID: 162516Country: INDIA

Title: Today the gold rate is Rs 3047.30/gm. But the selling price of old gold is Rs 2742.57/gm. When I will calculate the value of Gold, which rate I will consider?

Question: Today the gold rate is Rs 3047.30/gm. But the selling price of old gold is Rs 2742.57/gm. When I will calculate the value of Gold, which rate I will consider?

Answer ID: 162516Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 1091/953/D=9/1439)

It is better that you calculate it as per the market price and pay its fortieth part as zakah. For example, as a precautionary measure you should pay your zakah as per 3047.30. But if you pay your zakah according to the price in which your gold is sold in the market then too your fardh will be fulfilled, for example you evaluate it as per 2742.5.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: Today the gold rate is Rs 3047.30/gm. But the selling price of old gold is Rs 2742.57/gm. When I will calculate the value of Gold, which rate I will consider?

Question: Today the gold rate is Rs 3047.30/gm. But the selling price of old gold is Rs 2742.57/gm. When I will calculate the value of Gold, which rate I will consider?

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