Gold as jewellery has a use as a fashion accessory. Beyond that people consider it as wealth also. The gold jewellery received during marriage is something which is inherited. It should be considered as a security. It should be sold or pledged only at the time of a crisis.
Suppose let us assume that you sold the gold jewellery. When you sell for cash, it will fetch a lower rate than market rate. Now you have invested that in some other form. When your daughter’s marriage happens you will buy jewellery. You have to pay making charges on an average of 20%. On an average the gold prices might have increased by 7 to 8% per annum in the long term. So at that time your investment should fetch you returns that will be good enough to buy the same amount of gold. It is not so easy. Therefore if you have a daughter it is better not to sell the gold jewellery.