Is it a good idea or bad idea

I'm planning to get a personal loan or 3lakh INR on interest rate of 12 percent PA for personal use. I was thinking around this and got an idea to buy gold of that amount and then take loan on it. As gold prices are hiking, by the time I'll pay, it will almost cover my interest. Also, I would be pre-closing the loan as I have a steady income as of now and will get some from parents farming.

Please suggest me if it's a good idea or suggest me an alternative idea to it. Thanks for you replies and suggestions!