A. The minimum amount of Zakatable wealth (threshold) which makes one liable for Zakah is called Nisab
Q. How is Nisab calculated?
A. The Nisab of gold is 87.48 grams and silver is 612.36 grams. Hence, if a person only owns gold which is less than 87.48 grams then Zakah is not compulsory since he is below the threshold of Zakah. Similarly, if a person only owns silver which is less than 612.36 grams then Zakah is not compulsory. However, if a person owns any other Zakatable asset together with gold and silver then the applicable Nisab would be the value of 612.36 grams of silver. The equivalent Rand value of this fluctuates daily. This may be obtained from your local Ulama body.
And Allah Knows Best
Darul Ihsan Fatwa Department