This question can be answered in the context of your net assets. You then need to establish whether your net assets equal or exceed the Nisab threshold. If you exceed the Nisab threshold then Zakat is due on all your wealth at 2.5%.

Zakat is due on 2 types of precious metals - gold and silver.

Gold and silver are used as the basis for calculating your Nisab regardless of currency. This is the threshold of wealth you need to own before Zakat is due.

The gold Nisab should be used on gold assets. If there is a mixture of gold and silver assets, the silver Nisab should be used.
Was this article helpful?
Thank you!