How is the price of gold calculated when paying overdue Zakat: is it based on the price on the day it became due, or on the price on the day it is paid, whether paid in installments or in one lump sum?
If the gold reaches the (approximately 85 grams of pure gold), and a year has passed over it, becomes obligatory on it if it is not prepared for personal use, or if you are among those who believe in the obligation of zakat on jewelry prepared for personal use.
It is not permissible to intentionally delay zakat beyond its due time, except for a valid excuse. If you delay zakat, you must hasten to repent and pay the zakat to those who are eligible. The amount of zakat is a quarter of a tenth (2.5%) of the gold's weight. If zakat is paid in cash, the value of the gold is assessed at the time of paying the zakat. If the gold is prepared for trade, it is obligatory to pay a quarter of a tenth of its value at the time zakat becomes due.
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