Grand antique, precious (4)

I believe the answer is:

gold

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'precious' is the definition.
Both the answer and definition are adjectives. I also know that 'precious' relates to this answer.

'grand antique' is the wordplay.
'grand' becomes 'g' (G is short for grand as in a thousand).
'antique' becomes 'old' (similar in meaning).
'g'+'old'='GOLD'

Can you help me to learn more?

(Other definitions for gold that I've seen before include "first gets this?" , "bull's-eye" , "Au - metal" , "Mine produces this" , "Valuable metal" .)

I've seen this clue in the Evening Standard.

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