No. You should not buy gold jewellery as an investment as it is the wrong way to invest in gold.
Gold jewellery price consists of a significant amount of jewellery making charges (plus 5% GST on making charges, additionally) which are lost when selling it back to the jewellers. When you are selling gold jewellery back to the jeweller only the gold amount is considered valuating it purely on the basis of quantity and karat quality of gold used in it. Added to that 0.3 to 0.5 grams worth gold price is further deducted from the final consideration as a gold loss which generally occurs when melting the jewellery piece. Finally, depending on the quality of gold used jewellers pay you roughly around 85% to 95% of the actual gold price only.
Buying 24 karat (999) gold coins or biscuits from the bullion traders shop is the best way to invest in gold. 24 karat (999 purity gold) is the purest quality of gold available in the market in the form of gold coins and biscuits. A gold coin has hardly any making charges and unlike gold jewellery there's no gold loss to be considered when selling it back. Most of these bullions traders have a good buy back policy and you should get around 97% to 99% of the actual market price when selling it back to them.
Further, to invest in gold you can also explore other available option like gold ETFs, Sovereign Gold Bonds (SGB) or PayTM Gold. But, if immediate liquidity (to cash) is one of your major investment criteria then we would advice you to stick around with the good old trusted method of buying physical gold.