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I often hear the word gold as a slang to describe something great such as "last night's party was gold" or "that movie was gold" etc. What exactly does gold mean and how do you use the slang?

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It is commonly referred to as merit and stems from the rarity of gold and its use in medallions such as "Gold Medals." (Even this very Q&A board uses Gold / Silver / Bronze in its token system)

It is closest described as "priceless" when used in the context you described.

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I don't know that "priceless" is necessarily the correct word. Gold may be valuable, but certainly isn't priceless. – samuelAndThe Apr 1 '13 at 20:51
    
I think the meaning in this context is the same, ie "of the highest quality". – Max Williams Jul 7 at 8:24

protected by Mari-Lou A Jul 7 at 8:26

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