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?

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
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?

بسم الله الرحمن الرحيم

(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 knows Best!

Darul Ifta,
Darul Uloom Deoband

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