Q: What is the evidence for the obligation of Zakat on gold and silver?

A: The following verse directly mentions hoarded gold and silver which should have been given in the way of God. The exegetes of the Quran mention that this verse refers to Zakat.

“…those who hoard up gold and silver and do not spend it in the way of God, give them the glad tidings of a painful punishment” (Quran 9:34)

In a prophetic narration, a woman from among the people of Yemen came to the Messenger of Allah with her daughter. The daughter was wearing two big bangles of gold. The Prophet remarked: "Do you pay Zakat on these? She said: "No." He said: "Would it please you if Allah were to put two bangles of fire on you on the Day of Resurrection?” So, she took them off and gave them to the Messenger of Allah and said: "They are for Allah and His Messenger." (Sunan an-Nasa’i)

And Allah knows best!

Mufti Faraz Adam