My question is on which cost of gold either the cost of today market purchasing rates or on the rates of gold sell I have to pay the zakah? For example, if I have 10 gm of gold the today’s market price is Rs.28000.00 approx. And if I am going to sell this gold the shopkeeper purchases not more than Rs.27000.00. So on which cost of gold I may pay the zakah on Rs. 28000.00 or on Rs.27000.00?
Answer:
(Fatwa: 1841/1159/D=1432)
You will have to pay your zakah on 28000 as per the market rate.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband