The ruling on one who buys gold and sells it again?
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The questioner : What is the praiseworthy approach in the process of buying gold and selling it a second time...?
The Shaykh : As I mentioned earlier, paper currency has no intrinsic value; when it comes down and goes up, it is akin to gambling. It is not a commodity like sugar, rice, or the like. No matter how a commodity’s price falls or rises, that is relative and is the nature of trade. But paper currency is gambling, especially since it is in the hands of some major countries. If it is in their interest to lower the value of the currency they possess—what do they call it?—the dollar, the pound, or something similar, if it is in their interest to lower it, they lower it, and if it is in their interest to raise it, they raise it. And with this raising and lowering, other currencies are affected. Gold, however, is not like that.
The Shaykh : As I mentioned earlier, paper currency has no intrinsic value; when it comes down and goes up, it is akin to gambling. It is not a commodity like sugar, rice, or the like. No matter how a commodity’s price falls or rises, that is relative and is the nature of trade. But paper currency is gambling, especially since it is in the hands of some major countries. If it is in their interest to lower the value of the currency they possess—what do they call it?—the dollar, the pound, or something similar, if it is in their interest to lower it, they lower it, and if it is in their interest to raise it, they raise it. And with this raising and lowering, other currencies are affected. Gold, however, is not like that.
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.