What is the ruling on purchasing gold in installments online from the "Manjam" website, which allows the purchase of fractions of a gram to be accumulated until a gold bar is sent after reaching 20 grams, with payment via Visa? And is the gold fund on the stock exchange, which issues documents for purchasing 24-karat gold at a specified price, considered permissible?

For the sale and purchase of gold with money to be valid, both equivalents (the gold and its price) must be taken possession of within the same contractual session. Constructive possession includes designating the gold bar and enabling the buyer to dispose of it, or possessing a certificate representing ownership of a specific and distinct gold bar that authorizes the buyer to physically take possession of it whenever they wish. This condition applies to the purchase of undivided shares of gold. Accordingly, it is not permissible to sell an undesignated gold bar without actual possession, such as the scenario mentioned in the first question, where even constructive possession of the gold is not achieved. As for the fund mentioned in the second question, the inquirer must ascertain its mode of operation and apply the aforementioned criterion to judge its permissibility.