Is it permissible to purchase gold for a deferred price with the intention of selling it later for cash?

The scholars have unanimously agreed on the prohibition of selling gold for money without the exchange of the two alternatives occurring in the same session of the contract. If either party delays, the contract becomes void. They based their ruling on the Prophet's (peace be upon him) saying: "Gold for silver is usury unless it is hand to hand," and "Sell gold for silver however you wish, hand to hand." The Prophet also forbade selling gold for silver on credit.