Ruling on buying gold on credit

Question:
The first question, which relates to the topic: Is it permissible to buy gold that contains beads, given that it is now widely available in the markets?

Answer:
It is permissible to buy it, but not with paper money. As for paper money, it must be hand-to-hand; deferred payment is not permissible. One may buy gold containing beads with silver, with paper money hand-to-hand, or with real silver hand-to-hand; there is no harm in that. Or one may buy a gold item containing beads, diamonds, or pearls with sugar, a car, clothes, or other items other than gold, silver, and the known paper money that serves as a substitute for silver and gold.
However, if it is with this [paper money], it must be hand-to-hand. And if it is with gold, there must be similarity if the item contains gold. The gold must be separated and made similar to the gold, hand-to-hand. If he sells it for something other than gold, such as paper money, there is no harm, but it must be hand-to-hand. He should not say: "Give it to me, and I will give you the coins later," or... later is not allowed; it must be hand-to-hand.