We used to operate in a gold standard system in the past, it is common knowledge that we presently operate in a dollar based system. A system where each country measures the value of its currency against the dollar for the dollar based system and the gold for the gold standard system. The gold used to be a yardstick for measuring the value of a currency, although it is no longer used to measure the value of currencies these days, it has maintained it's prestigious value. Gold a very valuable metal, its prices depreciates at times and appreciates other times, but looking at its trend over 100 years, the prices have always appreciated over 10 years or above. From 2006 to 2015, the gold price per ounce appreciated by 200%, while from 2002 to 2015 it appreciated by 300%. So Long term investors go ahead and purchase gold. You must always pay zakat on the value of your gold when it reaches the nisab which is 87.48 grammes. However, you can give charity (sadaqa) from it. Alla...
This blog aims at equipping individuals with business and finance tools in simplistic terms. It covers both business finance and personal finance. It also looks at the actions that can help you run a business successfully. It has some juicy flavour in it. It also aims at getting individuals close to Allah (SWT). Insha Allah.Enjoy!

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