If you click on the HTML web page you will see the image open ... when the Inspect option has been chosen. You can add hyperlinks to a JPEG image in Photoshop. You open the file in photoshop.

The Digital Inspiration weblog has a step-by-step for adding ... web page or WYSIWYG HTML editor and then paste it into Gmail. Doing so allows you to insert your own tables, divs, images, etc.