This is really a matter of personal choice and reasons behind those choices.
I like both steel and gold regardless of model. I do not like gold plated watches ( worse still chrome pated ones) as once the plating wears off, you are left with the brass base metal which is swiftly eaten away from erosion and corrosion of body fluids making the watch disposable unless a new donor case is found or you are willing to spend money to have it electroplated (defeating the purpose altogether in my opinion) . Lets not confuse gold plating with gold capping which is a thin shell of gold fused over stainless steel.
I would prefer some models in gold over steel such as the early 1960's constellation such as reference 14393 which for me is a very classy watch if found with a solid gold dial making it both a tool watch and a dress watch at the same time. It pushes all the right buttons for me!!!
On the other hand, I would also be comfortable with a stainless steel 166.009 ( and also in gold capped) and the 300 divers 165.024.
There are both advantages and disadvantages of both gold and steel apart from price difference even though I have on some very rare occasions found the same model in both solid gold and stainless steel with negligable price difference.
Advantages of gold watch ;
to mention a few
gold never goes old. as it never rusts nor corrodes like stainless steel does especially where salts and perspiration concentrates like around the back seal gasket channels.
In the past it was known as the true investment watch as gold could always be built up by a goldsmith where it had worn off. Nowadays not a problem with laser welding of stainless steel with these days technology l!!
If the value of the watch does not go up in value, the gold content will, so you will always get your money back if at worse you would want to sell it off as scrap gold and spare parts in a few years, (but not get the same return on scrap stainless steel)
It is an expensive substitute for people that cannot wear stainless steel from allergies related to nickel in stainless steel. .Therefore anything that would hurt gold would hurt you first!!!
Gold is self lubricating even in alloyed metal where the gold threads do not gall unlike stainless steel, titanium, platinum and aluminum which can gold weld.
Although gold is soft, I wore an 18k gold Cyma daily for almost 20 years and saw very little wear on it just like I have with a stainless steel watch that I also have been wearing for about the same time. Obviously harsher conditions would have a possible different outcome
The disadvantage of a new gold watch is often the price where the gold model costs 5 times the stainless steel model when considering the amount of gold used is not in the same proportion of price.
Advantages of Stainless steel watch
stainless steel is still homogenous and will wear evenly without showing any metal discoloration under the wear.
Even if it pits and corrodes, it can still be laser welded to repair the damage and be restored like before
It is durable and has a neutral appearance
It is stronger than gold when used in harsher conditions
If you damage the case where the repair cost overrides the value of the watch, it is easier and cheaper to find a replacement case in steel than to have a new one made in gold or purchasing a solid gold second hand one even if you are lucky to find one.
In my opinion, I like the color of the stainless steel better than that of gold as I personally find gold too overwhelming for everyday use especially when mix and matching with other items such as a belt buckle or metal objects that are predominantly in steel color. Therefore iideally, I would choose a white gold one if price and availability was not a barrier.
Again each to their own, but if given the opportunity to obtain at an irresistible price, I would not be too over prejudiced for choice of metal, BUT DEFINITELY NOT PLATED unless I wanted it for the donor movement and dial!!!.