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One must give Zakat on gold based on the current market rate.

Answered as per Hanafi Fiqh by Jamia Binoria

Will the Zakat on gold be given based on the current rate or the price paid for it?Kia gold ke zakat abhi k rate k Hisab sy di Jay ge ya k jis py khareda Tha

الجواب حامدا و مصلیا

When giving Zakat, the value (of that which Zakat is given on) at the time Zakat is due is taken into consideration. Therefore, one must give Zakat on gold based on the current market rate.

Original Source Link

This Q&A was indexed from the official english fatwa portal of Jamia Binoria. It is an Islamic educational institute in Karachi, Pakistan.

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