Gold Ring or Golden Ring?
Both terms are possible but if they accompany the word ring then that ring may not be equally valuable, and the explanation for that is very simple. Something that is GOLDEN only resembles gold or it is associated to it if at least in a poetic manner, e.g. The Golden Globes, the Golden Gate, a Golden Retriever, the Golden Years, Golden anniversary, the golden rule. It is obvious that at least the retriever (a dog) is not made of gold.
On the other hand, we have the word GOLD which unlike GOLDEN that is an adjective is a noun. GOLDEN can never work as a noun and is always an adjective, but GOLD is a different case since it can function as both a noun and an adjective depending of the context. For the purposes here we refer to GOLD as being an adjective and as such is meaning is "made of gold". Examples of that word being used as an adjective are: gold mine, gold rush, gold medal.
In other words, when we say GOLDEN ring that is probably a ring that is coated with gold paint but it is not necessarily made of gold. If we say GOLD ring it is because it is made of GOLD. And certainly there are exceptions such as: goldfish.
Of course these days most people make no much difference between one term from another.
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