Zakah on Gold & Silver

Q 1: What is the Zakah (obligatory charity) on precious raw metals such as gold and silver? Is the Zakah due on them based on the completion of a Hawl (one lunar year calculated from...

First question of Fatwa no. 17669Q 1: What is the Zakah (obligatory charity) on precious raw metals such as gold and silver? Is the Zakah due on them based on the completion of a Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) or after refining them like crops? Please advise us on this matter. Thank you!A 1: If gold and silver are kept as property, then, Zakah is due on them if they reach Nisab (the minimum amount on which Zakah is due) and a Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) elapses while they are in possession. The Nisab of gold is twenty Mithqals (1 Mithqal = 4.25 grams) while the silver Nisab is one hundred and forty Mithqals. If they are used for articles of merchandise, then Zakah is due on them if they reach Nisab and a Hawl elapses.May Allah grant us success. May Peace and Blessings of Allah be upon our Prophet Muhammad, his family and his Companions! The Permanent Committee for Scholarly Research and Ifta' Member Member Member Chairman Bakr Abu Zayd `Abdul-`Aziz Al Al-Shaykh Salih Al-Fawzan `Abdul-`Aziz ibn `Abdullah ibn Baz