I’ve used candy melts a few times for drip cakes. I use a candy melting pot. It can be done in the microwave but it’s a little more tricky. You have to do it on the defrost setting in 30-second intervals, so it doesn’t burn.
If you want really smooth drips, I always add paramount crystals while it is melting. I made a cake with a drip that looked like snow, so I left it clumpy. Then put it in a squeeze bottle and drop away! Once they dry, you should easy be able to paint them with a gold luster mixed with vodka.
My favorite for gold drips is dark chocolate ganache. I use it a lot so it's always around, melts beautifully, and covers remarkably well with gold luster. Also a much smoother top cover than candy melts if you need that effect.
Cheers!
I'd use royal icing. It runs well. Just make it slightly runny. You can use a medium sized piping tip to drip around the edge of the cake.
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