Zakat on Gold
Zakat is the mandatory giving of a particular proportion of one's wealth to charity. Zakat is a type of worship that is required for the purification of one’s wealth and soul. Zakat is one of the third pillars of Islam and does not refer to charitable gifts given to the poor out of kindness or generosity. Zakat is a systematic giving of 2.5% of one's wealth each year to benefit the unfortunate.