Gold ETF Option

With the current happenings in the gold market, appreciate if you could share your views and advice on possibility of investing in gold EFT's as part of the portfolio.

Investing in gold ETF is not permissible in shariah. Buying and selling of gold ETF is buying and selling the securities and not physical gold. Gold is liquid as money and you cannot buy and sell money and any benefit derived will be RIBA (interest). Gold in good days was money and was bartered against other commodities & services, hence such ETFs are disallowed, and if anyone has approved, it needs to be scrutinized and investors should be protected from such a grave sin. Even jewelry that is used attracts Zakat, in Islam gold is money.


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