I want to invest in gold but I don’t know if I have to hold this gold physically at home or if ETFs backed by gold stocks are also allowed
Great question. Here are two discussions that we’ve had in the community that might be relevant here.
Gold ETFs are generally fine from a shariah compliance perspective if they are 100% physically backed. Here’s a list of the shariah compliant options in the US market, sorted from most expensive to least expensive:
symbol | name | expenseRatio |
---|---|---|
GLD | SPDR Gold Shares | 0.40 |
SESG | Sprott ESG Gold ETF | 0.38 |
IAU | iShares Gold Trust | 0.25 |
OUNZ | VanEck Merk Gold Trust | 0.25 |
AAAU | Goldman Sachs Physical Gold ETF | 0.18 |
BAR | GraniteShares Gold Shares | 0.17 |
SGOL | abrdn Physical Gold Shares ETF | 0.17 |
GLDM | SPDR Gold MiniShares Trust | 0.10 |
Thanks. I was buying BAR, now I will go with GLDM.
Thank you a lot do you have any quote or hadiths for this invest please ?
I am new to investing in stocks. How can I buy these? What is the best platform to use? I only heard of Robinhood and Webull. JaK
You should be able to buy them through any major broker, including both Robinhood and Webull.
Thank you Saad for your response. I saw also there is Fidelity and through banks but is there a specific one that you recommend or there is no difference?
One way of participating in a gold rally is to go long silver, this could be considered less risky.
You may want to consider going long silver as it is trading in the ~80 silver to 1 gold, and may revert to 55 silver to 1 gold, or even better.
If you look back in time you will note that the ratio has been significantly lower.
ETFs are avialbe for silver
I have been using Schwab and happy with it.
JazakumAllah khair.