State using the euro with gold rand adopted at the outset (7)
I believe the answer is:
andorra
'state using the euro' is the definition.
(Andorra uses the euro currency)
'with gold rand adopted at the outset' is the wordplay.
'with' becomes 'and'.
'gold' becomes 'or' ('or' is the heraldic name for gold).
'at the outset' suggests taking the first letters.
The initial letters of 'rand adopted' is 'ra'.
'and'+'or'+'ra'='ANDORRA'
(Other definitions for andorra that I've seen before include "mountainous country" , "Small state between France and Spain" , "Radar on (anag) - European principality" , "Small republic between Spain and France" , "Independent Pyrenean state" .)