As their names indicate, white and gold are two types of tequila. White tequila is also known as silver and Blanco. It is clear and transparent, while gold tequila is brown. When it comes to taste, white tequila has a harsher taste, but gold tequila is smoother. The smoothness is based off the additives added to the liquor, like caramel.
The sweet taste of gold tequila is what makes it better for margaritas. Another difference between them is price and availability. White tequila is lower in cost and has a wide selection in stores where alcohol is sold. Gold tequila is more expensive than white, and the selection in stores is less.