Dear Ravinder,
In case Gold or Silver are stock in trade as in case of a Jeweler then Gold and Silver can be hypothecated for CC limit. But in case they are not stock in trade then Gold or Silver loan on pledge may be taken But Hypothecation can not be permitted. As you know, in case of hypothecation possession of assets (movable) remains with the borrower and in case of pledge possession remains with the lender. For more detail on hypothecation read blog at link given below:
For more detail Click Here