The academic dress regulations and colors for graduation ceremonies require that the distinctive official costume of each person be worn. An old gold cap, gown, hood, or tassel can represent a particular degree or diploma.
Old gold is used for some NFL teams: the New Orleans Saints, the St. Louis Rams, and the San Francisco 49ers. The reason for its use by the Saints is that New Orleans is an old city with the heritage and architecture of regal Europe. The reason for its use by the 49ers is the identification of San Francisco (indeed the very choice of the mascot name) with the California Gold Rush of 1849. The reason for its use by the Rams is because old gold is used in conjunction with navy blue; both colors are a darkened version of the team's traditional blue and gold scheme dating back to when the team was in Los Angeles.
^The color displayed in the color box above matches the color called old gold in the 1930 book by Maerz and Paul A Dictionary of Color New York:1930 McGraw-Hill; the color old gold is displayed on page 51, Plate 14, Color Sample K5.
^Maerz and Paul, A Dictionary of Color (New York: McGraw-Hill, 1930), page 200, Color Sample of Old Gold, Page 51, Plate 14, Color Sample K5