Travelling on a gold canal boat (7)
I believe the answer is:
gondola
'canal boat' is the definition.
'travelling on a gold' is the wordplay.
'travelling' indicates anagramming the letters.
'on'+'a'+'gold'='onagold'
'onagold' anagrammed gives 'GONDOLA'.
(Other definitions for gondola that I've seen before include "Venetian canal boat" , "Traditional boat of Venice" , "Shop unit" , "It's traditionally used on the canals of Venice" , "Boat on Venetian canals" .)