Zakah on minerals such as gold and silver
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The first question of Fatwa number ( 17669 )
Q1: What is the zakah on minerals such as gold and silver? Is its zakah due upon the completion of the lunar year, or after it is refined like cultivated crops? Please inform us, and may you be rewarded.
A1: If gold and silver are for personal use, then zakah becomes obligatory in them when each reaches the nisab and a lunar year has passed over each. The nisab for gold is twenty mithqals, and the nisab for silver is one hundred and forty mithqals. If they are for trade, then zakah becomes obligatory in the value of each when it reaches the nisab and a lunar year has passed over it. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q1: What is the zakah on minerals such as gold and silver? Is its zakah due upon the completion of the lunar year, or after it is refined like cultivated crops? Please inform us, and may you be rewarded.
A1: If gold and silver are for personal use, then zakah becomes obligatory in them when each reaches the nisab and a lunar year has passed over each. The nisab for gold is twenty mithqals, and the nisab for silver is one hundred and forty mithqals. If they are for trade, then zakah becomes obligatory in the value of each when it reaches the nisab and a lunar year has passed over it. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.