Answered by Shaykh Abu Usamah
1.If you have lent some money to another brother are you liable to pay zakat on that money.
2. To calculate zakat on jewelry does one take the actual re-sale value of that jewelry as the amount to calculate zakat or the value of the actual gold content. (It happens here that you buy a piece of gold jewelry but if you were then to later exchange or sell that jewelry back to the jewelers they actually pay you much less.)
Al-Salam alaykum
1. Yes. Zakah is payable on a loan as this is an asset to you.
2. The value of the actual gold content is taken into consideration. i.e. the weight of the gold (jewellery). The value attached to the workmanship on a specific piece of jewellery is not considered.
Abu Usamah