Working out zakat on gold and silver becomes simple once you know two numbers: the nisab (the minimum threshold) and the fixed rate of 2.5%. In this guide we walk through each step, and you can use our free Zakat calculator to check your figure instantly.
What is nisab?
Nisab is the minimum amount of wealth a Muslim must own before Zakat becomes due. It is measured either by the gold standard (approximately 87.48 grams of gold) or the silver standard (approximately 612.36 grams of silver). Most scholars recommend the silver standard because it means more people qualify to give and it benefits the poor.
Step 1 — Find today's gold and silver price
Check the current market value per gram in your currency. Multiply it by the nisab weight to find your threshold.
Step 2 — Add up your zakatable assets
- Gold and silver (jewellery beyond normal use, coins, bullion)
- Cash in hand and bank accounts
- Money lent out that you expect to be repaid
- Trade stock and business inventory
Step 3 — Subtract immediate debts
Deduct short-term debts that are due now. If the remaining total is above the nisab and has been held for one lunar year, Zakat is due.
Step 4 — Pay 2.5%
Multiply the net figure by 2.5% (0.025). That amount is your Zakat, to be given to the eight categories of recipients mentioned in the five pillars.
"Take from their wealth a charity by which you purify them and cause them increase." — Surah At-Tawbah 9:103
Ready to check your number? Open the Zakat Calculator. For more everyday guidance, browse our Islamic blogs.