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Author Topic: Zakat and Gold  (Read 1379 times)
BrKhalid
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« on: Aug 25, 2008 02:00 PM »

Asalaamu Aliakum  bro

With Ramadhan being a preferred time to calculate and pay one's zakat, a brother recently reminded me about the huge increase in the price of gold recently and how that may impact on your zakat calculations.

In these inflationary times, it's a good job we don't have to pay zakat on the gas in our cars!!
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jannah
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« Reply #1 on: Aug 25, 2008 05:03 PM »

wsalam,

hmm what is the current price of gold? i guess one could say it's a good investment in that it's always going up but ouch zakat is going to hurt!! i know some parents buy gold practically on their daughter's birth for her wedding.. i wonder if that's worth it if you have to pay zakat every year. then again you have to pay on money sitting around too...
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nuh
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« Reply #2 on: Aug 26, 2008 11:15 AM »

As salaam alaikum.

Here is the current market value:

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