Is commodity trading is halaal in Islam...?
 

Is commodity trading is halaal in Islam...?

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The answer to your question requires an extensive explanation regarding the nature of the stock market itself, the legality of public corporations, and the nature of commodities trading. Much of the explanation is dependent upon your comprehension level of the topic, of the fiqh of transactions, of your usul ul fiqh adoptions.

and Allah knows best.

Commodities trading, which is usually done through futures contract is not permissible as far as I know. As for trading in actual physical commodities, then the rules for transacting in the specific commodities should be followed.

Dear brother i trade in spot gold, where you can get delivery but i dont get delivery because i dont need it and most importantly i dont want to take the risk of storing it and transporting it at the time of sale so plz guide me regarding that...

Dear brother, i trade in spot gold, where i buy gold and sale when ever i want, there is no future contract and delivery is also possible but i dont get delivery because i dont need it and most importantly i dont want to take the risk of storing it and transporting it at the time of sale so plz guide me regarding that...

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From what I've been told, this is completely permissible, where you buy something (as in something physical that actually has value to it as opposed to something hypothetical or theoretical) and then sell it for an equivalent or higher price.

Kind respected brother,
May Allah reward you for seeking His ruling in your business transactions. I am not qualified to give Allah's specific ruling in your personal business affairs. As a Hanafi, I encourage you to seek out qualified fuqaha who can accurately address this matter for you.

For example, here is a link to a website which addresses the buying and selling of gold according to Hanafi fiqh:

http://spa.qibla.com/issue_view.asp?HD=1&ID=346&CATE=43

As well, there are circumstantial commands regarding the lawfulness of a transaction (prerequisites such as specific measurement and/or possession of the commodity, etc). A faqih could present the full extent of the matter.

As for trading commodities on a stock exchange, this raises the matter to the legality of such markets.

Abu Dawood (3503), al-Tirmidhi (1232) and al-Nasaa’i (4613) narrated from Hakeem ibn Hizaam (may Allaah be pleased with him) that he said: I asked the Messenger of Allaah (peace and blessings of Allaah be upon him): “O Messenger of Allaah, people come to me wanting to buy something that I do not possess; should I buy it for them from the marketplace? He said: “Do not sell that which you do not possess.” This hadeeth was classed as saheeh by al-Albaani in Saheeh al-Nasaa’i.

This requires some explanation. In that regard, here is a link to the Muslim World League's Islamic Fiqh Council addressing the concept of transactions in stock and commodities markets:

http://www.************/en/ref/12431...odities%20gold

May Allah help you to render your transactions permissible and increase you in knowledge.

And Allah knows best.

Salam brother, i also think same as u think but why manny scholars have given there decisions in unfavor of this, they are saying that without getting physical delivery you cant sale any thing...

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What do you mean "physical delivery"? I was under the impression that you physically own the thing and have complete ownership of it.

Please explain this situation to a Mufti or send your question to Ask Imam or Mufti Says websites.

Dear brother, i already told in my all above comments that i buy gold from a company acm gold through an online account and they offer the delivery but i dont get usually because i dont need that and most importantly i dont want to take the risk of storing it and transporting it back for sale...