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Assalamualaikum, I am thinking of investing money in Gold, i.e., I will buy Gold for a price value and then wait for the price to raise in the market and then sell it for higher price for my profit. Is this lawful? will the money from this can be halal? Jazakallah.

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
Assalamualaikum, I am thinking of investing money in Gold, i.e., I will buy Gold for a price value and then wait for the price to raise in the market and then sell it for higher price for my profit. Is this lawful? will the money from this can be halal? Jazakallah.

Answer

(Fatwa: 1116/879/D=1431)

Purchase the gold in cash and take it in your possession, then you can sell it to someone else. It is not lawful for you to sell it before taking it in your possession or without possession.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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