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Can I own gold without physical possession?

1 vote
1 answer
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There are companies, such as [this one](https://www.goldavenue.com/) , that offer a customer the ability to buy gold bullion, in the form of bars and coins, and store and insure these bars and coins in the company’s vaults for a monthly fee. The customer will not have physical access to these bars and coins while they are located in a vault. Would it be halal to purchase gold bars and coins and store them in this company's secure vaults, for the sole purpose of protecting oneself against inflation, even though one would not have physical access to them? The reason I ask is because I am wondering if not having physical possession of the gold would contradict the teaching of the following hadith: > Ubida b. al-Simit (Allah be pleased with him) reported Allah's Messenger (ﷺ) as saying: Gold is to be paid for by gold, silver by silver, wheat by wheat, barley by barley, dates by dates, and salt by salt, like for like and equal for equal, payment being made hand to hand. If these classes differ, then sell as you wish if payment is made hand to hand. > > Sahih Muslim 1587c > https://sunnah.com/muslim:1587c
Asked by Mahmoud (113 rep)
Oct 6, 2024, 10:16 PM
Last activity: Oct 6, 2024, 10:52 PM