Gold

Gold is a chemical element with the symbol Au (from Latin: aurum) and atomic number 79, making it one of the higher atomic number elements that occur naturally. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal and a group 11 element.

200574

Forex . Gold . Investment . Ownership . Sunni-Shi'a . Fiqh (Jurisprudence)

Is Forex Spot and Gold CFD trading, with no physical ownership or delivery, allowed in Shia Fiqh such as through a non-Muslim broker like Exness?

Sayyed Mohammad Al-Musawi, Sayyed Mohammad al-Musawi is originally from Iraq and heads up the World Ahlul Bayt Islamic League in London. Other than being involved in various humanitarian projects, he frequently responds to... Answered 1 month ago

Physical possession is must in selling according to Shariah. Forex Spot and CFD trading do not have possession so it is not a proper selling and buying according to Shariah, but it looks like commitment to buy or sell based on studying the market. Such commitment is permissible despite it is not a sale transaction in Shariah, nor gambling but just commitment to buy or sell under certain conditions after studying the market's movement.

Wassalam.

197362

Investment . Gold . Khums

Is investing in gold Exchange-Traded Funds (ETFs) allowed? Additionally, how should Khums be calculated on this investment, especially considering asset value fluctuations that could lead to an unrealized profit or loss in subsequent years?

Investing in gold exchange is permissible if it does not involve any type of unlawful transaction like usury etc. Khums's must be calculated according to the price on the day of your date of Khums.
'Wassalam.

190459

Future . Gold . Silver . Margin trading

What is the Islamic perspective on future trading of commodities such as gold and silver, particularly concerning leverage and margin trading?

Future trading of commodities is allowed even if it involves leverage and margin trading as far as the trading itself does not involve unlawful deal or material.

Wassalam.

186046

Wealth . Gold . Silver . Currency . Zakat

Should the obligation of Zakah be extended to our current form of money since it no longer relies on gold and silver, which were used to measure wealth in the past?

Zakat is obligatory on nine items only including golden and silver current coins. It is not for us to change Shariah and add on these nine items.

Khums is obligatory on ever wealth including money, kind, property and every item we own.

Wassalam.

167792

Gold . Necklace . Ghusl . Woman . Ayat al-Kursi

Is it allowed for a woman to wear a gold necklace with Ayatul Kursi at all times, including when using the bathroom or taking a shower?

Zaid Alsalami, Shaykh Dr Zaid Alsalami is an Iraqi born scholar, raised in Australia. He obtained a BA from Al-Mustafa University, Qom, and an MA from the Islamic College in London. He also obtained a PhD from... Answered 2 years ago

Bismihi ta'ala,

Yes, it is permissible for her to wear it, as long as the script of the Quran does not touch her skin if she does not have wudhu'. To avoid this, she can wear it on top of clothing, or keep the script to the front, or cover it with a thin transparent layer of nail-polish, or something like that, which can also be used as a protection for it as well.

Of course, she must also ensure that it stays away from any najasah.

And Allah knows best

167135

Khums . Gold . Silver . Jewellery

Is it mandatory to pay Khums on gold and silver coins, or jewelry?

Bismihi ta'ala

If the jewellery has been used, there is no khums on it, but for the coins, if they are of common use, that would be a part of savings, if not used, and you must refer to the detailed laws of that.

And Allah knows best

156542

Gold . Energy . Interest . Investment

Is trading CFD on gold, metals, oil and the energy sector allowed if no interest is involved?

CFD dealings are permissible like other tradings as far as there is no interest or unlawful act is involved.

'Wassalam.

154216

Mother . Father . Money . Gold . Loan

Is it permissible for my mother to take funds from my father, using money he has earned illegally, who wants to return the value of some gold he had borrowed earlier from her?

Using Unlawful money is not allowed at all. It must be returned to the real owners.

Wassalam.

133087

Gold

I have a watch made of steel but its mechanism has some parts that are gold plated or made of gold. Is it permissible to wear such a watch?

Bismihi ta'ala

Yes, it would be permissible for you as a male to wear such a watch that has some small parts in its mechanism that are made of gold.

And Allah knows best.

132506

Gold . Theft

My friend apparently found a gold bar while digging in the field and he now wants me to sell it for him. I can earn a huge amount as a commission. Is this amount allowed for me because I don't know for sure whether he actually found it or stole it?

If you have reasonable points to suggest that he might have stolen it, it will then Haraam (unlawful) for you to help him in selling it. Stolen items are absolutely Haraam to deal with in selling or buying.
Wassalam.

126477

Gold . Zakat . Sunni-Shi'a

What is the quantity of gold on which the Shia pay Zakat on?

Zakat is obligatory on golden currency which is a currency made from gold. Zakat is not obligatory on gold if it is not in the shape of currency but Khums remains obligatory on the savings of everything including gold.

Zakat is obligatory on golden currency if it's weight is fifteen Mithqal as minimum.

Every Mithqal is 4.25 grams.

Wassalam.

125415

Gold . Man . Jewellery

Why are men not permitted to wear gold jewelry?

Every forbidden in Islam is damagingly harmful. We might know little of the harm, but we believe that Allah (SWT) Knows everything and He wants to protect us from its harm.

Wassalam.