Selling new gold for used gold
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The first and third questions of Fatwa No. ( 3821 )
Q1: Is it permissible to sell the exchange in gold? For example: A person came to me with used gold, and I bought it from him at a price of 50 riyals per gram, and he bought from me gold at a price of 60 riyals per gram, and this price differs from the selling price in the case of buying and selling, such that the gram is sold in this sale for 70 riyals per gram, but when I bought it from him for 50
riyals, I sold it to him for 60 riyals.
A1: That is permissible with two conditions: The first: immediate possession of both exchanges, for if the possession of both is delayed or the possession of one of them is delayed, it is not permissible; because of the riba al-nasi'ah (usury of deferment) involved in it. The second: that you do not stipulate upon him when you buy the gold from him that he must buy from you, otherwise it is forbidden; because it is two sales in one sale, and the Prophet (peace and blessings be upon him) prohibited that.
Q1: Is it permissible to sell the exchange in gold? For example: A person came to me with used gold, and I bought it from him at a price of 50 riyals per gram, and he bought from me gold at a price of 60 riyals per gram, and this price differs from the selling price in the case of buying and selling, such that the gram is sold in this sale for 70 riyals per gram, but when I bought it from him for 50
riyals, I sold it to him for 60 riyals.
A1: That is permissible with two conditions: The first: immediate possession of both exchanges, for if the possession of both is delayed or the possession of one of them is delayed, it is not permissible; because of the riba al-nasi'ah (usury of deferment) involved in it. The second: that you do not stipulate upon him when you buy the gold from him that he must buy from you, otherwise it is forbidden; because it is two sales in one sale, and the Prophet (peace and blessings be upon him) prohibited that.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.