Is an investment account in gold the same as if I bought actual gold?

Not necessarily.

Key points

• There's a difference between owning a specific, physical piece of gold and owning a financial product whose price is linked to gold or a balance measured in grams.

• Before considering yourself a gold owner, read the contract and understand the nature of the asset, your rights to receive and dispose of it, and any applicable fees.

• A brand name alone doesn't determine the nature of the product.

The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.

Source

• AAOIFI — Sharia Standards