Gold and silver: hand to hand, real metal, clean deals
After this lesson you can tell a clean gold or silver purchase from a riba-risky one, recognise paper gold, and do tola and purity math before you pay.
Sona aur chandi: haath ba haath, asli dhaat, saaf sauda
Hadith ka usool hai: sona sonay ke badle barabar aur haath ba haath, aur agar qism mukhtalif ho to jo qeemat chahein, magar phir bhi haath ba haath (Sahih Muslim 1587). Rupay se sona khareedna jaiz hai, lekin behtar yahi hai ke payment aur sona dono usi waqt mukammal hon. Qiston par sona lena ya 'baqi agle mahine' wala sauda aksar ulama ke nazdeek sood ka masla hai.
Purana sona de kar naya lena aur farq ke paise dena bhi ghalat hai, kyun ke yeh sona sonay ke badle ziyadati ke saath hai. Sahi tareeqa: pehle purana sona bech kar cash lein, phir alag sauda kar ke naya khareedein. Forex app par XAUUSD ya bina allocation ka 'paper gold' asal mein sona nahi, sirf leverage aur sood wala contract hai.
Tola 11.664 gram ka hota hai. Agar 24-karat Rs 400,000 fi tola ho to 2 tola ka 22-karat set taqreeban Rs 732,800 ka sona hai, aur Rs 60,000 making charges alag. Wapas bechne par making charges pehle din hi nuqsan hain. Jewellery pehnne ke liye hai; bachat ke liye bars aur coins behtar hain.
- Sona rupay ke badle kisi bhi qeemat par, magar payment aur delivery ek saath.
- Purana sona de kar farq dena ghalat hai; pehle bechein, phir alag khareedein.
- Allocated, pehchanne wala sona rakhein; paper gold aur leverage wala gold malkiyat nahi.
Poora sabaq neeche English mein hai. Quiz English mein hai; asaan alfaaz mein.
Sana in Islamabad wanted to turn her savings into gold before her sister's wedding. At a jeweller in Blue Area she was offered three deals: pay half now and half next month for a new set; hand over her mother's old bangles and 'just pay the difference' for new ones; or buy 'digital gold' in an app with a 1:100 'bonus'. All three sounded normal. Two carry a riba problem, and the third is not gold at all. Sana had no way to tell which was which.
The rule: like for like, hand to hand
The Prophet (peace be upon him) said: gold for gold, silver for silver ... like for like, equal for equal, hand to hand; and if the types differ, sell as you wish if it is hand to hand (Sahih Muslim 1587). Two rules follow. When gold is exchanged for gold, the weights must be equal and the exchange immediate. When gold is exchanged for something of a different type, such as silver or money, any agreed price is fine, but the exchange must still be immediate.
Most contemporary scholars treat modern money like gold and silver in this rule, because it is used as a price. So buying gold with rupees is allowed at any agreed price, with both sides completed in the same sitting: you pay in full, you take the metal. Some South Asian Hanafi scholars who view paper money differently allow the rupee side to be deferred if the gold is handed over at once; the careful course is to complete both together.
Jewellery in Pakistan: common deals
Making charges and the jeweller's buy-back deduction are simply part of the price in a separate sale. What matters is that each gold-for-money deal is completed on the spot, and that gold is never swapped for gold with an extra amount. How everyday deals compare:
- Cash at the counter, piece in your hand: clean, the normal case.
- Instalments or 'pay the rest next month': deferred payment for gold, a riba problem for most scholars.
- Old gold plus cash for new gold in one deal: gold for gold with an extra amount, breaking 'equal for equal'.
- Clean upgrade: sell the old gold for cash, take the money, then buy the new piece in a separate deal.
- Custom order: agree the design; settle the gold price and full payment when you collect.
Allocated metal versus paper gold
AAOIFI Shariah Standard 57 on gold requires that gold be delivered and possessed in the same session, physically or constructively. Constructive possession means specific, identified metal is registered in your name and under your control, even if it sits in a vault. That is allocated gold: particular bars with serial numbers or a clear share, which you can collect or sell.
Unallocated gold is only a promise: the provider owes you an amount of gold, but no specific metal is yours. Gold futures and 'XAUUSD' on forex apps with leverage go further: nothing is delivered, positions are settled in cash, and overnight charges are interest. Tokens such as PAXG say they are backed by allocated bars; scholars are still discussing when holding one counts as possession.
Tola, purity and the real cost of jewellery
One tola is 11.664 grams. Suppose 24-karat gold is Rs 400,000 per tola. Per gram: 400,000 / 11.664 = about Rs 34,294. Per 10 grams: about Rs 342,936.
Sana likes a 22-karat set weighing 2 tola. 22-karat is about 91.6% pure, so it holds 2 x 0.916 = 1.832 tola of pure gold, worth 1.832 x 400,000 = Rs 732,800. With a making charge of Rs 60,000, she pays Rs 792,800.
If she sells it back at the same gold price, she is paid for the gold only, often minus a deduction, so she has already lost at least Rs 60,000. Gold must rise 60,000 / 732,800 = about 8.2% just to cover the making charge. Jewellery is for wearing; bars and coins are the saving tool.
The hadith of like for like (Sahih Muslim 1587) sets the rule for every gold and silver deal. AAOIFI Shariah Standard 57 applies this to modern dealing: same-session possession, actual or constructive, and a clear line between allocated and unallocated gold. Gold kept as savings is zakatable, and the Quran's warning to those who hoard gold and silver without spending in Allah's way (Quran 9:34-35) is a reminder to pay it. On advance orders and gold tokens, ask a qualified scholar you trust.
Education, not a fatwa. Where scholars differ, we say so. See what scholars say.
The most common trap is the 'exchange' at the jeweller: handing over old gold and paying a difference for new gold in one deal. It feels like a normal upgrade, but it is gold for gold with an extra amount. The second trap is trading 'gold' on a forex app: you own nothing, you carry leverage and you pay overnight interest. Both turn a halal asset into a riba deal.
Open the gold desk and note the PKR price per tola and per 10 grams; check one against the other with the 11.664 gram rule. Then switch to silver and work out how many tola of silver equal one tola of gold today.
Open gold desk →Key takeaways
- Gold for money is allowed at any agreed price, but payment and delivery should happen together.
- Never swap old gold for new gold with an extra payment; sell the old piece first, then buy separately.
- Own allocated metal you can identify; unallocated, leveraged or futures 'gold' is not ownership.
Check yourself
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Barqish is an educational platform. Nothing here is financial advice or an instruction to buy or sell, and screening is not a fatwa. Spot ownership only: no leverage, no short selling. Updated 30 September 2026.