Buying and Selling: Ruling on Selling Gold Bullion on Credit at a Higher Price

Practical Laws of Islam as per the teachings of Imam Khamenei

Buying and Selling: Ruling on Selling Gold Bullion on Credit at a Higher Price

English:

Question #1588:

If the buyer and seller are agreed, is it permissible to sell gold bullion on credit, for a price higher than the present market price? And is the profit made from such a deal ḥalāl?

Answer #1588:

Specifying the price, i.e. cash or credit, in the sale contract is the prerogative of both parties of the contract. Accordingly, there is no harm in the deal described in the question. Nor is there any harm in the profit made thereof. However, selling gold for gold, whether differential or on credit is not permissible.

-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Buying and Selling