AsSalaamu alaikum, I have been reading about Gold funds and came across a post here saying recommending a few of them. One of them was PHYS (Sprott Physical Gold Trust), but I’m not finding it on the Zoya app. Can anyone please advise if it’s shariah-compliant?
A question I have is regarding taking possession of the gold and if that makes affects whether or not it’s halal. With PHYS, they only allow you to physically take the gold if your shares have a value equal to 400oz (i.e. the size of a gold bar). I looked into GLD before, but it seems that the fund tracks the price of gold and the fund’s custodians (which are banks) are the ones who physically own the gold. Whereas with PHYS the gold is owned by the fund and stored in the Canadian Mint.