User blog comment:PuffDragon/On the Red Rose lyrics/@comment-7713314-20130404205936

I don't think it has to do with riches... Given just how short it is, the words have to have more than just the apparent meaning. Gold is commonly used as color to depict high, even the highest, status.

I've been thinking that the common theme for inspiration for Team RWBY is that each is inspired by one of the Grimms' Fairy Tales. Both "Little Red Cap" and "Little Snow White" from their compilation of Germanic fairy tales. Haven't found anything too solid for Blake, but "The Thief and His Master" could be promising. The same with Yellow, with "Rapunzel", "Rumpelstiltskin", and "Mary's Child" being possibles.