Golden powder in general refers to a mixture consisting of potassium nitrate as an oxidizer and ascorbic acid as a fuel (also known as vitamin C). It finds it's main use in lifting charges. The heat of combustion is 5% higher and the gas volume produced is 10% greater than an equivalent amount of black powder. The residue on ignition is only 28% compared to about 50% using black powder. In addition, the residue from burning golden powder is water soluble, unlike many other propellants. It is mainly used as a substitute replacement of black powder. It has some disadvantages, ascorbic acid is not very cheap, and the mixture is hygroscopic . This is not the formula made by Earl "Skip" Kurtz.
Crimson powder is a form of golden powder with Iron oxide (red) catalyst. Experimenting with other catalysts is possible.
Set your stove on moderate heat, and pour in 100 parts of water. Now mix the powdered ingredients in the water.
Stir constant until it begins to "bubble," then leave it for about 10 seconds. Soon a yellow colour appears in the mixture, continue stirring. Mix until everything turns yellow. Now you can finish it for drying or just continue heating it for darker colour (Be careful not to heat too much or spontaneous ignition may occur).
Pour it out for drying, but remember to keep inside a plastic container (if necessary, use dessicant bags) after the crushing procedure to avoid getting the powder wet.
If the powder is granulated the sodium carbonate in the second Composition help to reduce the weight because carbonic acid comes into being by making it. But be careful with bigger nuggets because they may and can explode.
Third composition, crimson version is made by adding mixed ingredients (11,2g) to 30ml of boiling water. Paste is smeared on heavy aluminium foil, and dried in oven on lowest setting (do not make more than ~10g at time).
Table 1: Composition 1
Table 2: Composition 2
Table 3: Composition 3 (crimson)
http://www.nakka-rocketry.net/articles/Crimson_powder.pdf - Crimson powder for rocket parachute ejection charge