The following question was asked of a marja`:
Is Zakah due on gold that is in the form of jewelry and what is the minimum amount required for zakah to be due? How should I go about calculating the minimum amount? Thank you and may Allah reward you.
The marja,` Imam Ahmad Hasan, may Allah preserve him, answered with what follows:
There is no zakah due on gold that is in the form of jewelry as long as there is no extravagance or waste. What is meant by extravagance and waste is whatever exceeds what is understood customarily as such.
Taken from the website of the maraji`