Roland said of this sword that it's color changed thirty times a day. Now you can see for yourself ingame if the legend is true. Stats: Equals the damage of a one hand dragonbone sword (15 base) but is 1 unit heavier (because Dragonbone is heavy but Gold is...you know...) and has 1.1 reach instead of 1 because it's 10% longer. Same Critical.
Unique, can not be crafted, but can be upgraded with 1 Steel and 1 Gold ingot and the Steel smith perk.