As salaamu alaykum wa rahmatullaahi wa barakatuh Hadhrat,
I hope Allah has you in good health,
I wanted to know if it was ok to sell something at a certain price and buy it back when the value drops.
E.g, these figures are just an example…
If I was to know that the price of gold was going to drop and I ask my sister to give me her block of gold 1KG worth a hundred pounds. And promise her that I will return her 1KG of gold same quality after a certain period of time.
I sell the gold block to a gold dealer for a hundred pounds and after a certain period of time go back, buy the same weight but for fifty pounds as the value has dropped, and so buy back at the current value, return the gold to my sister and gain fifty pounds with my sister being fully aware of the transaction.
Please let me know if this would be permissible and may Allah always bless you.
Muhammad khan
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Walaikumussalam w w
It’s risky, but legally it’s permissible.
In business big men do take big risks.
Wassalam