TYPES OF GOLD
Celebrated worldwide as one of the most precious metals, gold has a rich history that transcends time. From its usage as traded coins in ancient eras to crafting Olympic medals and adorning actors with Oscar awards, gold has been an integral part of human culture for thousands of years. Today, Razajewellers invites you on a dazzling journey to explore the diverse and different types of gold, each with its unique characteristics and charm.
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Symbolically, gold’s color represents more than just a metal—it embodies luxury and prosperity. This precious metal is a well-known symbol of abundance, good fortune, and extravagance. Moreover, ancient civilizations revered gold, using it to glorify their gods. From bygone eras to the present day, people continue to hold gold in high regard, considering it a powerful symbol of both wealth and power.
In addition, Gold comes in various types, making it a versatile and sought-after metal. From classic yellow gold to trendy rose gold and contemporary white gold, each type carries its distinct allure. Razajewellers, your guide in this exploration, unveils the captivating characteristics of each gold variant. Beyond symbolism, understanding the physical attributes and unique features of different gold types adds depth to your appreciation.
Uses Of Different Types of Gold
Newsflash! Gold isn’t just a precious metal with no properties. However, there are some legitimate health benefits you can get while wearing gold jewellery. Want to know about a few of them? Well, here they are.
- You’ll get plenty of oxygen since gold provides a huge advantage of increasing blood circulation. Crazy. Right?
- Pouring pure gold onto an infection or sore can effectively treat it.
- Stabilizes body temperature if in an unusual state.
Turns out, it’s not just something you can purchase to make yourself financially secure but has some benefits for good health too!
Almost any type of contest awards the first-place winner a gold medal or trophy, as seen at the Olympic Games where gold medals are given to first-place winners. Likewise the Academy Awards Oscars are gold awards. Music’s Grammy Awards are made of gold. All of these important achievements are honored with awards made of gold.
In addition, medicinal applications of gold and its complexes have a long history dating back thousands of years.[44] Several gold complexes have been applied to treat rheumatoid arthritis, the most frequently used being aurothiomalate, aurothioglucose, and auranofin. Both gold(I) and gold(III) compounds have been investigated as possible anti-cancer drugs.
Zakat On Gold
What is Zakat?
One of the obligatory acts in Islam, Zakat is the most beneficial step towards ending poverty and hunger. Every Muslim must consider Zakat obligatory, distinct from Sadkah.
The act of zakat is obligatory when possessing a certain level of money called Nisab. The Nisab for gold is 7.2 tolas or 85 grams.
Similarly, the amount of zakat is the 2.5 percent saving of every lunar year and only obligatory in situations after achieving a certain financial level. This includes having a certain amount of income, money in the bank, savings, and zakat on precious metals like silver and gold. Precious metals excluding platinum, gemstones, pearls, diamonds, ruby, and sapphire.
Zakat on Various Types of Gold Jewellery
Due to the lack of knowledge on the subject, more often people find it a bit complicated on how to determine the amount of zakat for jewellery. Therefore Zakat is only obligatory if half or more than half of your jewellery consists of silver and gold. An important question you might ask is, “What if my jewellery has diamonds, gemstones, or pearls in it?”. We advise you to take your jewellery to the nearest store and have a professional determine the weight of the jewellery without having to remove any of the stones.
Furthermore, giving Zakat for jewelry requires you to give it based on the market value, which is 2.5 percent. For example, if your jewelry weighs around 10 grams, your Zakat will be 2.5 percent of 10 grams.
“And establish prayer and give Zakat, and whatever good you put forward for yourselves – you will find it with Allah.” (2:110, Qur’an)
Those with wealth don’t just give Zakat as a duty for the love of Allah (SWT) but recognize it as a right that the poor have over them.
The Holy Qur’an notes those with sufficient wealth as:
“Those in whose wealth there is a recognised right for the needy and the poor”