Saving Gold
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The first question of Fatwa No. ( 4165 )
Q1: Is saving gold forbidden? For example, if I bought a gram for one dirham, and the year passed and the price dropped to half a dirham, but the following year it rose to five dirhams, is this usury or is it forbidden?
A1: It is permissible to buy gold with a currency other than gold, hand to hand, and to save it and sell it later for less or more than its previous price. This is not considered hoarding, which is prohibited, provided that the zakah obligatory upon it is paid.
Q1: Is saving gold forbidden? For example, if I bought a gram for one dirham, and the year passed and the price dropped to half a dirham, but the following year it rose to five dirhams, is this usury or is it forbidden?
A1: It is permissible to buy gold with a currency other than gold, hand to hand, and to save it and sell it later for less or more than its previous price. This is not considered hoarding, which is prohibited, provided that the zakah obligatory upon it is paid.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.