The Hanafis hold gold and silver jewelry liable to zakat when nisab and the other requirements are satisfied.
Under the well-known Shafi‘i position, jewelry kept for permissible personal use is not liable: it is treated as an article of use rather than merchandise or stored monetary wealth.
The Hanafi reasoning treats gold and silver as intrinsically zakatable wealth whose status is not erased by fashioning them into jewelry. Reports about jewelry are also discussed in this context.
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Zakat on Gold: Nisab, Incremental Dues and Jewelry
The Hanafis hold gold and silver jewelry liable to zakat when nisab and the other requirements are satisfied.
Under the well-known Shafi‘i position, jewelry kept for permissible personal use is not liable: it is treated as an article of use rather than merchandise or stored monetary wealth.
The Hanafi reasoning treats gold and silver as intrinsically zakatable wealth whose status is not erased by fashioning them into jewelry. Reports about jewelry are also discussed in this context.