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Zakaat on Gems, Diamonds, etc

Answered as per Hanafi Fiqh by CouncilofUlama.co.za

Q: Is zakaat waajib upon platinum, gems, rubies, diamonds, sapphires, etc?
From Ihyaaud Deen. This entry is part 4 of 37 in the series Zakaat Masaail

A: Zakaat is not waajib on all precious stones besides gold and silver unless they were purchased with the intention of resale.

This answer was collected from CouncilofUlama.co.za, which is operated under the supervision of Council of Ulama Eastern Cape, South Africa.

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