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market value

Which value will be considered for gold and silver jewellery?

Submitted by admin on Tue, 2016-07-26 11:45

Q: The general "market" for an ordinary person wishing to sell his jewellery in our times would be to a jeweler or a gold purchaser. The value thus given by them constitutes the market value. The established practice of both these dealers in evaluating an item to be purchased by them is to consider the gold content present in the jewellery only. They ignore any value that may exist due to the workmanship present in that gold or silver jewellery.

Question: Will this value given by the jeweller or gold purchaser (which is based on gold content only) be the market value considered for zakaat purposes?

Category:

Zakaat

Calculating zakaat

Read more about Which value will be considered for gold and silver jewellery?

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