What is the ruling on investing in a gold fund that trades only in physical gold, whose manager takes a fixed commission as an agent, and which allows the investor, upon exiting, to take their shares in cash or as pure gold?

It is permissible to trade in gold, provided that Islamic legal rulings are observed, such as the obligation of immediate mutual possession when selling it for gold, silver, or currency, and the impermissibility of selling it on credit. There is no harm in the fund manager receiving a fixed salary. A shareholder may exit the fund after the company is liquidated, either actually or constructively, by valuing its assets. It is not permissible to guarantee the capital for any partner, and losses are incurred proportionally to the contribution, which is the view of the majority of scholars.