How should one calculate the gold for Zakat when the gold price is fluctuating every day
I am Gold Jewellery Businessman from India. The Gold Stock Value is fluctuating every month. The Gold Jewellery is on Display and I have Not Realised Profit. The Asset Value is increased only in the Book of Accounts. I get my Profit only after Selling the Jewellry, for which I pay my Zakaah. Should I pay Zakaah for the Value Increased Unsold Stock?
In the name of Allah, the most Beneficent, the most Merciful.
The value of the unsold gold item on the day you give the Zakat will be taken into consideration for calculating the Zakat. (Fatawa Uthmaani p.66 v.2 & Badaaius Sanai p.22 v.2)
Only Allah Knows Best
Mohammed Tosir Miah
Darul Ifta Birmingham