Back to search
The question

- Is it permissible to purchase gold from a customer and deduct its value after selling him new gold? - Is it obligatory to pay wholesale gold merchants in cash before receiving the gold from them, given that they refuse this and request used gold? - Is it permissible to sell gold on credit, and does the same ruling apply if the customer is a relative or neighbor and part of the price remains unpaid? - Is it permissible to sell gold adorned with non-gold stones, deducting their weight at the time of sale? - Is it permissible to polish used gold and sell it as new, and is it obligatory to inform the customer of this?

Share this answer

Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

It is a condition for purchasing gold with gold, silver, or banknotes that the exchange takes place during the contracting session. If the type is the same, equality [in weight] is obligatory. Accordingly, it is not permissible to purchase gold from a customer without handing over the price, then selling your gold and deducting the value, as this leads to selling gold for gold with a disparity, or without immediate exchange. Similarly, the absence of immediate exchange or equality when selling used gold for new gold is prohibited. This applies to all customers, regardless of their proximity or distance. When selling gold that contains stones for gold, the stones must be separated to achieve equality. However, if the price is paper currency, separation is not required. It is permissible to deduct the weight of the stones when purchasing gold that contains them, with the customer's consent, if the price is not gold; otherwise, separation is obligatory. It is permissible to polish old gold and sell it, but it is not permissible to give the impression that it is new, and the truth must be stated when asked, unless the custom is that the shop only sells new items.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Source platform
Ftawy
Original fatwa ID
65531
Imported
Translation status
Source text, unreviewed
Read the full ruling
Read the full answer on Ftawy