Is selling gold and jewelry at wholesale price on credit, where the value of the gold is determined in money first, and then payment is made in money without reference to the gold, permissible or forbidden?

It is not permissible to sell gold for gold, silver, or paper currencies unless the exchange takes place in the same session of the contract, based on the Prophet’s (peace be upon him) saying: "Gold for gold, and silver for silver, like for like, equal for equal, hand to hand… But if these types differ, then sell as you wish, provided it is hand to hand." Delaying the payment in such cases is considered Riba An-Nasi'ah (interest due to delay), which is forbidden. However, delaying the payment is permissible if the purchase is made with other goods that are not gold, silver, or currencies.