A classic reduction frit. When this is worked in a neutral flame and combined with silver, you can get some gorgeous boro blue/green tones. If you leave it on the surface and reduce the frit (adjust your torch for more propane/less oxygen).
It's difficult to consistently get the golden tones that the name implies. Much depends on your torch and kiln environment; nonetheless, this is a color which must be included in your inventory if you are working with frits.