Answer
(Fatwa: 1257/1062=B -1429)
When, after all expenditures, you do not save wealth equal to nisab (the amount prescribed for zakah) at the year-end, then you are not asked to pay zakah. If a year had passed over the gold received by your wife as a gift, then it is essential for your wife to give zakah. The value of the gold and available cash etc should be calculated altogether then the fortieth part (i.e. 2.50%) of the total amount should be paid as zakah.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband