Missing out your gold loan payment will lead to a decrease in your credit score which will create problems to avail a loan in future and also will make you liable to face legal actions by your lender. These legal actions may include prosecution under the law, extra charges and fines, confiscation and auction of your gold. You should always pay back the loan on time and in case you are unable to do so because of some reason, then you should inform your lender of the same and ask for relief.