Trading Gold Certificates

السؤال

[Question One] : Salamu Alykum, Jazak Allah Khair again. A quick question : I promise to try to stop asking more questions. I imagin how busy you are. Is it Halal to trade exchange-traded funds (e.g. GLD). They trade Gold but I am not sure if they deal with Ribba. [Question Two] : It's actually a trust. It holds about 355 tonnes of gold. My understanding that when somebody buy their share / stock, he / she buys a portion of the gold they have (stock / share = 1 / 10th of an ounce). Here is a link if you have time and interested in getting more information. http://www.streettracksgoldshares.com/ [Question Three] : Gold can carry concerns about authenticity and purity, as well as storage and insurance costs. Exchange-traded funds is away to shed these worries and still own a chunk of gold by investing in exchange-traded funds that make buying and selling gold bullion as easy as buying and selling stocks. The share price of street tracks gold shares (GLD, as an example) roughly tracks the price of gold and represents an investment in gold bullion. In effect you get to own gold without the hassle of storing and insuring. With GLD, each share is priced at about one-tenth the price of gold bullion. If gold goes to $ 650 an ounce, then the price of a share should be about $ 65. hope this helps. Jazak Allah Khair

جواب الفتوى

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تاريخ النشر

2006-04-19

التخصصات الرئيسية

العلوم الاقتصادية والمالية وإدارة الأعمال
الدراسات الإسلامية

عدد الصفحات

3

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-788659

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