Do we pay zakat on jewelry that we wear (that may be mixed with other materials that are not gold)?

There is a difference of opinion regarding paying Zakat on jewelry you wear regularly. Our stance is that Zakat should be paid on that. For gold and silver mixed with other materials, as long as the total gold percentage (or silver percentage) is greater than 50% in that piece, then Zakat should be paid on it, proportionally to the percentage. Example: if a gold bracelet is 75% gold and 25% other metals, and the total weight is 100 grams. Then Zakat is paid on the 75g of gold in it.