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3.
When something is good, funny or generally entertaining...
Person 1:"Rosa fell down the stairs at school today"
Person 2:"Thats Gold!"
by Mechanical Animal April 16, 2006
 
1.
To describe something or a situation that is classic and/or priceless, like the ability of gold to stand the test of time and hold value. The term can be used to describe some epic adventure, great conquest,or just as a sarcastic remark to someone to patronize them.
dude: I slammed that hot redhead from the bar last nite.

dudes friend: That's gold!

example 2

tool : I just put a spoiler on the back my cavalier, it's so cool!

dude: Yeah that's gold.
by TV CAR April 08, 2010
 
2.
To clench one's right fist and slam it down on one's left palm.

Performed when something funny or exciting is, has or is about to occur.
-That's Gold
-Footy Show
-Harragon
by Chaz36 August 11, 2005