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Investing in gold companies

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: Please advise if it is permissible to invest in gold stocks for companies owning gold mines, gold mutual funds, exchange traded funds or does one need to physically have the gold in one’s possession?

Bismillaah

A: If the operations of the gold company are right then buying a share with them is permissible.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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