Unfortunately, I have never heard of that (my background: experience at a oil major and commodities HF).
@CarterMcCoy you seem to make the link between the value petroleum and gold, so maybe it is more global macro portfolio stuff? Maybe you can provide details on your context? The only mentions of gold I have ever read/heard I think (in relation with the job at least) are in inspectors' reports after they analysed the composition of samples taken on tankers/barges and in the exploration division when the guys analyse crude assays.
Or, as @bearish suggests, maybe it simply is very "local" e.g. maybe it is traders' parlance at the company where you heard that?