Is zakat obligatory on gold saved in the bank, and does it fall under the description of "those who hoard gold and silver"?

Scholars differed regarding the zakat on jewelry intended for adornment. The majority held that it is not obligatory, while Abu Hanifa, the Zahiris, and a group of contemporary scholars held that it is obligatory. Those who deemed it obligatory cited the generality of the verses concerning zakat, such as the Almighty’s saying: "And those who hoard gold and silver and spend it not in the way of Allah – give them tidings of a painful punishment." (Quran 9:34), and hadiths like the hadith of Abu Hurairah concerning the punishment for one who withholds zakat, as well as specific hadiths indicating the obligation of zakat on jewelry, such as the hadith of the woman and her daughter. The fatwa adopted by us is that of the majority. However, avoiding disagreement is good, and it is more cautious to pay zakat (a quarter of a tenth each year). Since your not paying it aligns with the opinion of the majority, the warning does not apply to you.