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Reference SA-0034
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Majmu' Fatawa Ibn Baz, vol. 14, p. 121
Yes, zakat is obligatory on a woman's gold and silver jewelry if it reaches the nisab and a year has passed, even if she wears it. This is the position based on the explicit hadith, and it is the safer and more correct view.
Evidence
Qur'an
[Surah at-Tawbah 9:34](/quran/9/34) — "Those who hoard up gold and silver and do not spend it in the way of Allah, give them tidings of a painful punishment."
Hadith
Abu Dawud 1563 — A woman came to the Prophet (ﷺ) with her daughter wearing two heavy gold bracelets; he ordered her to pay their zakat. (Sahih)
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