The use of nanoparticles is spreading in many fields and a frequent way of preparing them is in the form of colloids, whose characterization becomes increasingly important. The spectral reflectance and transmittance curves of such colloids exhibit a strong dependence with the main parameters of the system. By means of a two-flux model we have performed a colorimetric study of gold colloids varying several parameters of the system, including the radius of the particles, the particle number density, the thickness of the system and the refractive index of the surrounding medium. In all cases, trajectories in the L*a*b* color space have been obtained, as well as the evolution of the luminosity, chroma and hue, either for reflectance or transmittance. The observed colors agree well with typical colors found in the literature for colloidal gold, and could allow for a fast assessment of the parameters involved, e.g., the radius of the nanoparticle during the fabrication process.