Parking short term cash in GOLD ETF

I need to park 8 – 10 lacs of cash for downpayment for a real estate purchase in 3 to 4 months. Considering the bullish trend in GOLD and today’s negative sentiment in equities due to US debt crisis, is it sensible to park this cash in GOLD ETF instead of putting it in savings account or short term FD to get some extra return

1. Is it risky?
2. Compared to short term FD, would GOLD ETF returns be better after short term capital gain tax?