Zakat On Zaiwarat (Gold Jewelry)
CONCLUSION: There is NO Zakat due on Zaiwarat (Gold Jewelry), that were bought for the PRIMARY purpose of as wearable jewelry; even if that gold jewelry has significant financial value and could be sold as an asset in dire financial circumstances. That Gold jewelry is EXEMPT from Zakat, because it’s PRIMARY PURPOSE is to use it as jewelry (ornaments), even though it has a significant financial value and has the potential to be sold as an asset. So, I guess, the BOTTOM-LINE is the PURPOSE/INTENT of the valuable. If for personal use, then NO Zakat; if as a form of saved asset, then Zakat Payable. Dr. Irfan Shahzad, kind endorse the above summary, if it is accurate. If not, kindly suggest the changes. و السلام عليكم ورحمة الله وبركاته