In today's world the qualifications have become quite complex. You must follow the steps listed below in specific order. Any deviation or shortcut in the steps automatically regulates you to "regular" team status.
1) Be able to spell the word GOLD or at least find someone who can. 2) Have someone either print or stitch the correctly spelled word onto the uniform in a somewhat prominent spot.
Best way to tell if a team is a gold team is watch what happens on the field. The team that beats everyone else and goes 6-0 every weekend might qualify for Gold. Then is they go to Nationals for ASA and finish in the top twenty, they might be a Gold Team. Then if all the other teams in the area organize against them to keep them out of their Tournaments, they might be a gold team.