Gold loans are a secured borrowing option where individuals use their gold items as collateral to obtain a loan from a financial institution. These loans are known for their simplicity and accessibility, with quick approval processes and minimal documentation requirements. The loan amount is determined by the weight and purity of the gold, and interest rates are applied for a specified tenure. Gold loans serve as a valuable financial resource for individuals looking to address various short-term financial needs, leveraging the value of their gold possessions while maintaining ownership of these assets during the loan tenure.