Imam Al-Ghazali رحمه الله eloquently stated in his magnum opus, Iḥyāʾ ʿulūm al-dīn: “Allah Subhanahu wa Ta’ala has created dinars and dirhams as just arbiters between all commodities, that all wealth may be measured through them.” This profound hikma underscores the intrinsic value and stability provided by currencies based on the Sunnah.

[Source: Volume 4, Book 34, “Kitab Adab al-Kasb wal-Ma’ash”]

Qur’anic Foundations for Gold and Silver Currency

The Holy Qur’an, in its divine wisdom, explicitly mentions the use of gold and silver as mediums of exchange and measures of value. Allah Subhanahu wa Ta’ala says in Surah Al-Tawbah:

“…And there are those who hoard gold and silver and spend it not in the way of Allah. Announce unto them a most grievous penalty.” [9:34]

This ayah not only acknowledges gold and silver as forms of wealth but also emphasizes their importance in economic transactions and charity. Furthermore, in Surah Al-Kahf, Allah mentions:

“…So send one of you with this silver coin of yours to the city…” [18:19]

This verse from the story of the People of the Cave explicitly mentions the use of silver coins (wariq) for purchasing food, demonstrating the Quranic recognition of precious metals as currency.

Additionally, the concept of paying Zakat in gold and silver is rooted in the Qur’an and Sunnah. The Prophet Muhammad ﷺ said:

“There is no Sadaqah (Zakat) on less than five Awsuq, or less than five camels, or less than five Awaq.” [Sahih al-Bukhari]

Here, ‘Awaq’ (plural of uqiyah) refers to a specific weight measure in Islamic jurisprudence. An uqiyah is equivalent to 40 dirhams, and 5 awaq is equal to 200 dirhams of silver. This hadith establishes the nisab (minimum amount) for Zakat on silver, further solidifying the Islamic basis for using precious metals as currency and a measure of wealth.

The Sunnah of Gold and Silver in Islamic History

During the Khilafah of Umar ibn Al-Khattab رضي الله عنه, the dar al-Islam witnessed the minting of gold dinars and silver dirhams, establishing the foundations of halal trade and commerce. These currencies were not merely worldly symbols, but embodiments of adl (justice) and amanah (trust). Unlike the gharar-laden fiat currencies or digital alternatives, gold and silver possess qimah haqiqiyyah (intrinsic value), protected from the riba and maysir that plague modern economic systems.

The Virtues of Physical Gold and Silver

1. Qimah Dhātiyyah (Intrinsic Value): Gold and silver are universally recognized for their inherent worth, unlike paper money which can be printed at will by the tawaghit (oppressive rulers).
2. Protection from Riba: Historically, gold and silver have been effective shields against the haram of inflation, preserving the ummah’s wealth.
3. Istiqbal Mali (Financial Independence): Ownership of physical gold and silver provides Muslims with a measure of financial autonomy, freeing them from the shackles of riba-based banking systems.
4. Compliance with Shariah: The use of gold dinars and silver dirhams aligns with the maqasid al-Shariah, promoting adl and qist in muamalat.

The Dangers of Central Bank Digital Currencies (CBDCs)

CBDCs, while technologically advanced, present several risks that could undermine the maslahah (public interest) and infringe upon personal financial autonomy:

1. Centralised Tahakkum (Control): CBDCs are controlled by central banks, potentially leading to zulm (oppression) and violation of privacy.
2. Economic Manipulation: The ease of creating and controlling digital currencies may lead to economic fitna, impacting inflation rates unpredictably.
3. Vulnerability to Cyber Threats: Digital currencies are susceptible to modern forms of sariqa (theft) through cyberattacks.

A Call to Action for the Ummah

It is crucial for Muslims worldwide to consider the maslahah of reverting to the use of physical gold dinars and silver dirhams. These currencies, sanctioned by the Qur’an and Sunnah, offer not only economic stability but also resonate with the akhlaq and religious principles that underpin Islamic finance.

As we navigate the complexities of the modern financial nizam, let us draw inspiration from the hikma of Imam Al-Ghazali رحمه الله and the practices established during the Khilafah of Umar رضي الله عنه. By embracing gold and silver, we can safeguard our rizq, uphold our deen, and contribute to a just and stable economic future for the Ummah.

In conclusion, let us move forward with baseera (insight) and hikma, ensuring that our mu’amalat reflects the enduring principles of adl, amanah, and integrity as prescribed by our deen and exemplified in the use of gold and silver currency.

Wallahualam.

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In the wake of recent political turmoil and growing concerns over the security of savings accounts, many Britons are increasingly turning to gold as a secure investment. The significant Tory wipeout has exacerbated economic uncertainties, prompting savers to seek out more stable assets.

#### Rising Demand for Gold

Gold has long been considered a safe-haven asset, particularly during times of political and economic instability. As confidence in traditional savings accounts wanes, the allure of gold’s enduring value becomes ever more appealing. Investors are looking for ways to protect their wealth from potential market fluctuations and financial instability.

#### Amanah.gold: Leading the Way

Among the various options available, **Amanah.gold** distinguishes itself by offering to beat the prices of any mainstream gold bullion retailer in the West. This commitment to competitive pricing makes Amanah.gold a standout choice for investors seeking value for their money.

Amanah.gold not only offers competitive rates but also ensures that their products are Sharia-compliant, providing a trustworthy and ethical investment option for those concerned with adhering to Islamic financial principles.

#### Advantages of Gold Investment

Investing in gold comes with several advantages:
– **Stability**: Gold maintains its value over time, making it a reliable store of wealth.
– **Liquidity**: Gold is easily tradable, allowing investors to convert their holdings into cash quickly.
– **Diversification**: Adding gold to an investment portfolio can reduce risk and increase resilience against market volatility.

#### Conclusion

As the economic landscape remains uncertain, more Britons are turning to gold to safeguard their wealth. With its promise to offer the best prices and a commitment to quality, Amanah.gold emerges as a leading choice for those looking to invest in gold. By choosing Amanah.gold, investors can navigate these turbulent times with greater confidence and security.

—

Investing in gold with Amanah.gold not only provides financial security but also ensures ethical and competitive advantages. For more information, visit [Amanah.gold](https://www.amanah.gold).

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In a world of financial intrigue and economic uncertainty, recent actions and subtle admissions from the Federal Reserve have sparked widespread speculation: Is gold, the age-old standard of wealth, quietly replacing the dollar as the linchpin of global finance?

### A Subtle Shift in Federal Reserve Policy

Over the past year, keen observers have noted a significant yet understated shift in the Federal Reserve’s approach towards gold. Historically, gold has been viewed as a relic, a barbarous relic even, in a world dominated by fiat currencies and digital transactions. However, recent policy changes and statements suggest a nuanced acknowledgment of gold’s enduring relevance.

In its latest monetary policy reports, the Federal Reserve has made passing references to gold that hint at its renewed importance. While these mentions are veiled in economic jargon and buried deep within extensive documents, the implications are profound. Analysts argue that the Fed’s increasing attention to gold is a tacit admission that the yellow metal is regaining its status as a cornerstone of financial stability.

### The Dollar’s Decline

The U.S. dollar, long the world’s primary reserve currency, is facing unprecedented challenges. Massive fiscal deficits, burgeoning national debt, and inflationary pressures have eroded confidence in the dollar’s long-term value. Additionally, geopolitical tensions and trade imbalances have prompted several countries to diversify their reserves away from the dollar, seeking alternatives to reduce their dependency on the U.S. currency.

Amid this backdrop, gold has emerged as a viable alternative. Central banks across the globe, including those in China, Russia, and India, have been bolstering their gold reserves. This trend is seen as a strategic move to hedge against the dollar’s volatility and potential decline.

### Gold’s Resurgence

Gold’s resurgence is not merely a reactionary measure; it reflects a fundamental shift in the global economic landscape. Unlike fiat currencies, gold is not subject to the whims of central banks or governments. Its value is intrinsic, rooted in its scarcity and historical role as a store of wealth. In times of economic uncertainty, gold’s appeal as a safe-haven asset is unparalleled.

The Federal Reserve’s subtle nods towards gold can be interpreted as an acknowledgment of these dynamics. By quietly shifting its stance, the Fed may be preparing for a world where gold plays a more prominent role in international finance.

### Implications for Investors

For investors, the Fed’s tacit admission has significant implications. Gold, often seen as a hedge against inflation and economic instability, is now being recognized as a potential pillar of the financial system. This recognition could drive a surge in gold investments, as market participants seek to capitalize on its renewed importance.

Furthermore, the potential revaluation of gold as a central asset could lead to substantial price increases. As demand for gold intensifies, its market value could rise dramatically, offering substantial returns for early investors.

### Conclusion

The Federal Reserve’s quiet admission that gold is replacing the dollar marks a pivotal moment in the financial world. It signals a shift towards a more stable, gold-centric economic order, reflecting deep-seated concerns about the dollar’s future and the global financial system’s stability. For those attuned to these developments, this transition offers both challenges and opportunities, heralding a new era where gold reclaims its throne as the ultimate standard of value.

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Gold has been on a remarkable rise in 2024, gaining over 18% since the start of the year. If you’re invested in gold or considering it, you’re likely wondering if this upward trend will continue in June. While certainty is elusive, three key factors could drive gold prices even higher this month. Let’s explore these factors in detail.

**1. The June Inflation Report**

Inflation has been impacting everyone’s budget, from gas prices to groceries. While inflation is tough on our wallets, it often benefits gold prices.

– **Gold as a Hedge**: Historically, gold has acted as a hedge against inflation. When the prices of goods and services rise, gold tends to increase in value as well, helping investors protect their assets.
– **Upcoming Report**: The next inflation report, due on June 12th, will reveal the inflation rate for May. If inflation remains high, it could lead to a rise in gold prices as investors seek to preserve their purchasing power.

**2. The Federal Reserve’s June Meeting**

The Federal Reserve’s FOMC meeting, scheduled for June 11th-12th, is another crucial event that could influence gold prices.

– **Impact of Fed Meetings**: These meetings are pivotal as they discuss the state of the economy and decisions regarding interest rates and monetary policy. Such decisions can significantly affect the economy, stock market, and interest-based investments, thereby impacting gold prices.
– **Investor Behavior**: Recently, gold prices have been moving up around Fed meetings as investors use gold to hedge against potential policy changes. The mid-June meeting could see increased demand for gold, driving prices higher.

**3. Political and Geopolitical Factors**

Political uncertainty and global unrest are also significant drivers of gold prices.

– **Political Changes**: The ongoing presidential race and potential leadership changes can create economic uncertainty, prompting investors to seek safe havens like gold.
– **Geopolitical Unrest**: Conflicts and instability around the world impact global economies. Unfortunately, the current global situation is rife with unrest, which could further boost gold prices as investors look for stability.

**Conclusion**

In summary, June could see further gains for gold due to the upcoming inflation report, the Federal Reserve’s June meeting, and ongoing political and geopolitical factors. While nothing is guaranteed, these are compelling reasons to believe that gold could continue to perform well this month.

Hope you found this analysis helpful! Share your thoughts in the comments, and if you enjoyed this article, please like and subscribe for future updates. Thanks for reading!

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The joint program, unveiled by the WGC and DMCC, seeks to address key challenges facing the gold sector while unlocking new opportunities for growth and development. At the forefront of their agenda is the promotion of responsible gold sourcing and production practices. By supporting initiatives that prioritize environmental stewardship, fair labor practices, and the fight against illegal mining activities, the program aims to ensure that gold is sourced and produced in a socially and environmentally responsible manner.

In addition to sustainability, the program will focus on driving innovation and technological advancements within the industry. Research and development initiatives will be supported to enhance extraction and refining processes, as well as explore new applications for gold in various industries. By fostering innovation, the program aims to enhance the efficiency and competitiveness of the gold sector while opening up new avenues for growth and diversification.

Transparency and integrity are also key priorities of the program, with efforts aimed at enhancing the visibility and traceability of gold throughout the supply chain. Measures will be implemented to combat fraud, money laundering, and other illicit activities associated with the gold trade. By promoting transparency and integrity, the program aims to instill confidence in consumers and investors alike, ensuring that gold remains a trusted and reliable asset class.

The partnership between the WGC and DMCC underscores the importance of collaboration in driving positive change within the gold industry. By leveraging their respective strengths and resources, these two leading organizations aim to create a more sustainable, transparent, and innovative gold sector that delivers value for all stakeholders.

As the program unfolds, stakeholders across the gold industry can anticipate a wide range of initiatives and activities aimed at promoting responsible sourcing, driving innovation, and enhancing transparency. By embracing these principles and working together towards common goals, the WGC and DMCC are laying the foundation for a brighter and more sustainable future for the gold industry.

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In a groundbreaking series of experiments, scientists have uncovered previously unknown secrets of gold, shedding light on its properties and potential applications. These discoveries mark a significant milestone in the study of this precious metal and open doors to exciting new possibilities.

Exploring the Depths: The experiments delved deep into the molecular structure and behavior of gold, revealing intricate details that had remained hidden for centuries. Researchers employed state-of-the-art techniques and innovative methodologies to unravel the mysteries surrounding this revered element.

Revealing Hidden Properties: One of the most astonishing revelations from the experiments was the discovery of unique properties inherent to gold. Scientists uncovered unexpected behaviors and interactions at the atomic level, challenging conventional wisdom and reshaping our understanding of this noble metal.

Unlocking Potential Applications: The newfound insights into gold’s properties have vast implications across various fields, from materials science to medicine. Researchers are exploring innovative applications, such as advanced nanomaterials, biomedical devices, and catalysis, harnessing the unique characteristics revealed by the experiments.

Implications for Industry: The discoveries have significant implications for the gold industry, offering potential avenues for enhanced extraction, processing, and utilization of this valuable resource. By leveraging the newfound knowledge, companies can optimize their operations and explore novel approaches to gold-related technologies.

Looking Ahead: As scientists continue to delve deeper into the secrets of gold, the possibilities are limitless. Future research endeavors promise to unveil even more intriguing aspects of this precious metal, paving the way for groundbreaking advancements and transformative innovations.

Conclusion: The series of groundbreaking experiments have illuminated previously hidden facets of gold, unlocking new realms of knowledge and possibilities. From unveiling hidden properties to exploring potential applications, these discoveries herald a new era of understanding and innovation in the realm of precious metals. As researchers continue their quest for knowledge, the secrets of gold are poised to captivate and inspire future generations of scientists and innovators.

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Introduction:

In recent times, the economic landscape has witnessed a significant shift as Chinese investors turn to gold amid uncertainties in property and stock markets. The trend, once confined to the East, is now making its way to Western markets, signaling a growing preference for the age-old precious metal as a safe haven for wealth preservation.

The Chinese Paradigm:

China, long regarded as the world’s largest consumer of gold, has traditionally seen gold as a symbol of wealth and prosperity. However, the recent surge in gold investments goes beyond cultural symbolism. As property and stock markets experience fluctuations, Chinese investors are turning to gold to safeguard their assets and hedge against economic uncertainties.

Property Market Turbulence:

The Chinese property market, known for its rapid growth in recent years, is now facing challenges, with concerns about overheating and potential bubbles. In response, investors are diversifying their portfolios by allocating a portion of their wealth to gold. Unlike property, which requires ongoing maintenance and is subject to market volatility, gold offers a tangible and enduring store of value.

Stock Market Volatility:

Simultaneously, the Chinese stock market has experienced fluctuations, prompting investors to seek alternatives. Gold’s historical resilience during times of economic turbulence makes it an attractive option for those looking to preserve capital and minimize risk.

The Western Influence:

While traditionally associated with Eastern investment strategies, the trend of turning to gold is gradually making its presence felt in Western markets. As global economic uncertainties persist and market dynamics evolve, Western investors are taking note of gold’s role as a reliable asset class that can serve as a hedge against inflation, currency devaluation, and market volatility.

Factors Driving Western Interest:

1. Diversification Strategy:
   • Western investors are recognizing the importance of diversification beyond conventional assets like stocks and real estate. Gold, with its low correlation to traditional investments, is gaining prominence as a crucial component of a well-balanced portfolio.
2. Inflation Hedge:
   • Concerns about inflationary pressures are prompting investors to explore assets that historically retain value during inflationary periods. Gold has a proven track record as an effective hedge against inflation.
3. Global Economic Uncertainties:
   • Ongoing geopolitical tensions, the impact of the COVID-19 pandemic, and uncertainties surrounding interest rates are contributing to a sense of caution among Western investors. Gold’s status as a safe-haven asset is becoming increasingly attractive in this context.

Conclusion:

The surge in gold investments among Chinese investors reflects a broader global trend as the precious metal gains prominence in Western portfolios. As economic uncertainties persist, gold’s role as a reliable store of value and a hedge against market volatility is likely to see continued appreciation. Investors worldwide are recognizing the timeless appeal of gold as a strategic asset that stands the test of time.

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The Digital Dirham Initiative:

At the forefront of this transformative initiative is the digital dirham, a state-backed digital currency designed to modernize the UAE’s payment landscape. With its foundation built on blockchain technology, the digital dirham aims to enhance the efficiency, security, and accessibility of monetary transactions within the UAE and, as demonstrated by recent developments, beyond its borders.

The First Cross-Border Transaction:

The successful execution of the first cross-border payment using the digital dirham serves as a proof of concept, showcasing the versatility of the digital currency in facilitating secure and swift international transactions. This achievement not only underscores the UAE’s commitment to financial innovation but also positions the digital dirham as a player on the global stage.

Key Features of the Digital Dirham:

1. Blockchain Technology:
   • The digital dirham leverages the inherent security and transparency of blockchain, providing a decentralized platform for financial transactions. This feature ensures the integrity and traceability of cross-border payments.
2. Instant Settlement:
   • With near-instant settlement capabilities, the digital dirham significantly reduces the processing time of cross-border transactions, offering a marked improvement over traditional payment systems.
3. Reduced Costs:
   • By streamlining processes and minimizing intermediaries, the digital dirham has the potential to significantly reduce transaction costs associated with cross-border payments, benefitting businesses and consumers alike.
4. Enhanced Financial Inclusion:
   • The digital dirham contributes to financial inclusion by providing secure and efficient payment methods, aligning with the UAE’s vision of a digitally connected and accessible financial ecosystem.

Global Implications and Amanah.Vault:

The success of the UAE’s digital dirham initiative holds global implications, inspiring other nations to explore the integration of digital currencies into their financial systems. Simultaneously, in the UAE, Amanah.Vault is set to revolutionize the gold trading landscape. Amanah.Vault will offer tokenized vaulted gold services, allowing real-time trading of gold assets through a secure and transparent platform.

Sunnah Digital Gold Backed Coin:

Looking ahead, Amanah.Vault has ambitious plans to introduce a Sunnah Digital Gold Backed Coin. This initiative aligns with the principles of Islamic finance, providing a gold-backed digital coin as a secure and ethical investment option.

Conclusion:

The UAE’s successful implementation of the first cross-border payment using the digital dirham signifies a pivotal moment in the evolution of global finance. This achievement, coupled with Amanah.Vault’s innovative approach to tokenized vaulted gold services and plans for a Sunnah Digital Gold Backed Coin, reinforces the UAE’s position as a trailblazer in the digital currency and fintech space. As the world witnesses these advancements, the stage is set for a future where digital currencies and innovative financial instruments play a central role in shaping the global economic landscape.

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