The new gold is more rose gold (coppery gold) than the original rose gold was. Whats confusing here is the naming scheme. The Apple Watch Series 3 removed Rose Gold, but the new gold was coppery gold and not yellow gold which is what people really expect when you name something just "gold". Now we have the same with the Apple Watch Series 4 and the new iPhone Xs and Xs Max. Gold is not yellow gold, its coppery gold.
I don't mind it, I dislike yellow gold and I like coppery gold but the naming is rather confusing as the colour is not what I would expect from something called "gold". The reason why its not named Rose Gold is probably because Apple had Rose Gold in the past which was more like pink gold and not rose gold which is more coppery gold. The new gold is more like rose gold, but its not named rose gold.. Its a tad bit too dark to be rose gold, but it for sure is not regular / yellow gold.