The ruling on whoever sold used Gold and did not receive the Price, and then he purchased new Gold while just paying the Difference

Question :

What is the ruling concerning whoever sold gold to the owner of a shop, and then he bought other gold from the owner of the shop with an amount close to the amount for which he sold his gold to him, for example? Then he pays the shop owner the value of the gold that he bought from the value of the gold that he sold to him while not actually receiving the money for his gold.

Answer:

This is not permissible, because if he sold something for a price that he did not receive, and then he took something in place of its price that it is not permissible to sell on credit, the Fiqh scholars have clearly declared this to be forbidden. This is because he has taken a means of deception to sell what is not permissible to sell on credit by this method of not receiving payment. If it (the gold) is of the same type, it becomes a deceitful way of practicing Riba Al-Fadhl and Riba An-Nasi'ah.

Read more:

Selling that which is defective is not permissible

Question : I am a vegetable merchant and I have a partner who bought 40 Qintaar ...

There is no Limit for the increase in Sales for delayed (Credit) Payment

Question : If a man has a bag of sugar that is sold up front for 80 riyals, and ...

This Transaction is a Form of Gambling

Question :In our city is a cooperative business organization that displayed a ca...

It is not permissible to delay Payment in selling Gold for Gold or for Money

Question : If a person comes who wants to buy some gold jewelry and when what he...