I kind of remiss to guess this, but I think it's a nose hair trimmer. For golden nostrils.
Is it part of a compass?
A gilded roach clip?
Part of a hydraulic pump for a car...like a jack.
Is it a cigarette holder?
miniature canon, duh!
I thought Scott had it with the nose trimmer untill I saw one in the store today... it's a strawberry (or other fruit) stem remover.
all valiant guesses! answer to be revealed tomorrow!