Explanation
The standard rate of Zakat on silver, gold, and currency is 2.5% (or 2 ½ %) of the total wealth if it meets the Nisab threshold..
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If you have 7.5 tola/3 ounces/87.48 grams of gold or
52.5 tota/21 ounces/612.36 grams of silver or
its cash equivalent for a full lunar year,
then you are considered Sahib-e-Nisab and should pay Zakat 2.5%
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Zakat become obligatory in 2 AH
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Zakat money can be spent on Poor Muslims
List of Head of Zakat
1. Al-Fuqara (The poor)
2. Al-Masakin (The needy)
3. Zakat collectors
4. Who converted to Islam
5. Freeing captives
6. Debtors
7. In the path of Allah
8. Wayfarer (Traveler)
