A gold loan is a type of loan that uses gold as collateral. This means that the borrower offers their gold to the lender as security for the loan, which can be repaid with interest or in full at a later date. Gold loans are often used in emergency situations where other forms of collateral may not be readily available. The interest rates on gold loans can be higher than those on traditional loans, but the advantage of using gold is that it holds its value over time, making it a more stable form of collateral. Gold loans are available from a variety of financial institutions, including banks and credit unions.