How is zakat paid on gold ingots prepared for trade: Are they valued at the price of new or used gold, and does zakat include all the gold or only the profit?

Zakat is obligatory on gold prepared for trade, based on its value at the completion of the Hijri year, not its weight. The gold is to be valued at the price at which it can be sold at the time Zakat becomes due. The value of gold prepared for trade is added to cash and other trade goods, and all of it is subject to Zakat at a rate of a quarter of a tenth (2.5%) if it reaches the nisab. There is no disagreement among scholars that Zakat in trade encompasses both the capital and the profit together.