Yes, of course it will be in many different ways. Players will have a vast amount of options to use gold on but they're going to have to work for it if they want it.
[Another small update] Topic = Armor
I know most of you guys don't realize this but typically in tibia armor is only good to protect you against attacks such as monster melee attacks. I have recently changed how armor will be. Armor is now going to protect you from all damage types. The more armor you have the better you will be in all aspects of defending yourself. I have come up with a formula that will make it so it balances out for all vocations. In addition to armor you will still be able to find items with magic resistance on them.