Why was Goa called Golden Goa during the late 16th century?

During the late 16th century, Goa was referred to as Goa Dourada, or "Golden Goa," due to its immense prosperity and architectural splendor as the capital of the Portuguese empire in Asia.1

This period of affluence, which reached its climax between 1575 and 1600, was driven by several factors:

• Trade Monopoly: As the headquarters of Portugal’s eastern empire, Goa served as a central hub for a vast trade network. Its bazaars displayed diverse luxury goods from across the Portuguese empire, including pearls and coral from Bahrain, Chinese silk and porcelain, and spices from the Malay Archipelago.1
• Civic Status: The city was granted the same civic privileges as Lisbon, reflecting its high status and importance to the Portuguese crown.21
• Opulence: The city’s wealth was visible in its grand stone houses, gardens, and the ostentatious lifestyle of its inhabitants. The city's magnificence was so renowned that it inspired the Portuguese proverb, "He who has seen Goa need not see Lisbon".1

This prosperity was built on the control of maritime trade routes and the exploitation of inter-Asian trade, making Goa one of the world's wonder cities during the height of Portuguese power in the region.13