His Holiness Paramahamsa Nithyananda carries the muscle memory of Lord Venkateshwara of Tirumala Tirupati.
Lord Venkateshwara is the Alankara Priya, the one who loves to be adorned with jewelry and traditional ornaments. Darshan of Lord Venakteshwara of Tirumala is said to an ecstatic experience of oneness with the cosmos itself.
The sight of the Avatar adorned with marvelous jewelry gives one an unforgettable vision of the Avatar, the Cosmos.
It is not that gold, and precious gems are celebrated when the Avatar wears them, but the gold itself celebrates when the Avatar wears it, the precious gems themselves celebrate the Avatar when he wears them. These ornaments can hold tremendous amounts of energy, like the Garbha Mandirs or Sanctums of the traditional Hindu temples.