I. Gold represents precious confidence.

Gold is a symbol of splendor and wealth. The gift of gold means the giving of all that is precious that one possesses, the giving of one's heart. The Holy Spirit often compares faith to gold, and 1 Peter 1:7 says, "That your faith, being tried, may be more precious than gold that is tried with fire and still perishable, that it may be found unto praise, and glory, and honor, at the appearing of Jesus Christ."

II. Frankincense represents devotional prayer.

The removal of all evil deeds is like the removal of all stench, and good deeds are like the incensing of frankincense, so that one's self emits a Christ-like fragrance. The offering of frankincense to Jesus is a blessing to the Son of Man - a fragrance from within. Giving frankincense is like giving Christ-like goodness. David prayed to God, "May my prayer be as incense displayed before Thee; and may I lift up my hands in supplication as an evening sacrifice." It is also recorded in the book of Revelation that the angel held in his hand the lyre and the golden censer full of incense, which is the prayer of all the saints.

Third, myrrh represents the suffering mind.

Myrrh has antiseptic properties, so the Jews used it in funerals, and to offer it as a gift meant to offer something imperishable, that is, it meant unchanging faith. In order to have such an unchanging heart, one must first turn away from all kinds of evil thoughts, for if there is evil in the heart, it is always ready to deteriorate in accordance with selfish desires. The gift of myrrh is like the gift of faith that never perishes.

The Bible records that after the crucifixion of the Lord Jesus, Nicodemus brought about a hundred pounds of myrrh and incense, and wrapped Jesus' body in fine linen cloth with spices, according to the rules of the Jewish funeral. The myrrh was bitter, to show that believers were to suffer for the Lord! The Apostle Paul said, "And not only so, but all who set their hearts to live godly in Christ Jesus will also suffer persecution."

Expanded:

The Pilgrimage of the Three Wise Men:

In the Bible's Gospel of Matthew, it is mentioned that the Doctors of the East, who had learned from their nightly observation of the stars that a new king of the Jews was about to be born, hurried to Jerusalem to pay their respects. When King Herod learned of this, he asked the Three Doctors to report to him when they found out what had happened to the child, and he would visit him as well.

The Oriental Doctors finally found the Virgin Mary and the Child Jesus in Bethlehem, according to the star that predicted the birthplace of the Child, called the "Star of Bethlehem". The doctors offered gifts of gold, frankincense and myrrh to the Virgin and Child as a sign of veneration. Afterwards, the doctors were instructed in a dream not to return to King Herod, but to go straight back to the East.

Baidu Encyclopedia - The Pilgrimage of the Three Doctors