Gold as an investment is recommended. However the exposure is to be limited to 10-15% of your total corpus. But investment in gold in the form of jewellery is not recommended. The cost you pay to invest in gold exchange-traded funds (ETFs) or gold funds is way too less than the cost you pay in the form of making charges. In addition, you need to be careful about the quality/purity of the jewellery you buy. It is prudent to stick to gold ETFs or funds.