Is it permissible to buy gold on credit?

The questioner : If a person wants to go and buy gold, and the price of gold at that time is equivalent to one thousand paper dinars, but he only has eight hundred dinars with him, and he says to the shop owner, "I will bring you the money tomorrow," is this permissible in this case?

The Shaykh : It is not permissible. This is a deferred payment and a delay in settlement. As long as paper currency has no intrinsic value, it is not permissible except to pay immediately. Then, in my opinion, a very serious branch of this issue is that it is not permissible to expand in trading with paper currencies. Rather, a person should only spend from them within the limits of need and dire necessity. As for waiting for an opportunity for one of the currencies to drop, then going to buy it, and then waiting for it to rise to sell it, and so on, this is, in my view, a type of gambling or usury.

The questioner : My teacher, we leave the space for our brother...

The Shaykh : But Allah loves fairness. This session is not only for al-Hawani.

The questioner : I am traveling, O my Shaykh.

The Shaykh : Therefore, the benefit is shared. As for the sessions we agreed upon with him, no one shares them with him...