“Band of Gold” was written by legendary former Motown producers Holland–Dozier–Holland (H-D-H) and Ron Dunbar, a staff employee and producer. H-D-H wrote the song under the pseudonym Edythe Wayne because of a lawsuit they had with Motown.
It was big hit for Freda Payne in 1970 on the Invictus label, which was owned by H-D-H. It reached number three in the US and number one on the UK singles chart in September 1970, giving Payne her first gold record.
It was No. 10 on the Billboard Year-End Hot 100 singles of 1970.