It worked better with gray, and the subtlety and discretion worked well with the whole minimalist thing. The way you can't necessarily tell by looking if it's silver or white gold or platinum. Where yellow gold is obvious. Now it's good again. It's also still about the color.
Color is more important now, and yellow is more colorful than white.
And yellow gold looks better with beiges and camels and russets and browns, which there are more of at the moment. One cannot have too many pairs of gold hoop earrings. But a bracelet would be fine, too. Or some pink diamonds. Or a crocodile bag with gold hardware.