Is it permissible to open a shop for buying and selling gold? Thank you.
Gold trading is permissible, provided that the -compliant regulations are observed. These include: If gold is exchanged for gold, it must be of equal measure and the exchange must be hand-to-hand. It is not permissible to sell gold for a lesser quantity of gold on account of craftsmanship. If gold is sold for currency, the exchange must be hand-to-hand at the time of the contract, and it is forbidden to sell it on installment or credit. The Prophet, peace and blessings be upon him, said: "Do not sell gold for gold except like for like... and do not sell from it that which is absent for that which is present." If these regulations are observed, along with trustworthiness and good counsel, then there is no objection to opening a gold trading shop.
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- 90711
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