1 Peter 1:6-7 KJV Wherein ye greatly rejoice, though now for a season, if need be, ye are in heaviness through manifold temptations: 7 That the trial of your faith, being MUCH MORE PRECIOUS than of gold that perisheth, though it be tried with fire, might be found unto praise and honour and glory at the appearing of Jesus Christ:
"Much More" in the Greek is "polos" (pol-oos'), and it means "many, largely, abundant, far surpassed, and great."
"Precious" in the Greek is "tim'-ee-os," and it means "valuable, costly, honored, esteemed, and beloved."
By the action of fire gold is separated from all alloy, and is proved to be gold by enduring the action of the fire without losing any thing of its nature, weight, color, or any other property. So genuine faith is proved by adversities and trials.
"Though it be tried with fire" gold will bear the action of the fire for any given time, without losing the smallest particle of weight or value. However even gold will wear away by continual use. One day the earth shall be dissolved, but all who did the will of God and remained in the faith shall abide for ever, and his faith shall then be found to the praise of God’s grace and the honor of Christ. God the Father will praise such faith, angels and men will hold it in honor, and Christ will crown it with glory.
God's design in trying or testing His people is for their advantage and not their ruin. Someone asked me what is the best meaning of a trail. A trial, as the word signifies, is a search made upon a man by some form of affliction, to prove the value and strength of his faith.
Our status in Christianity depends upon our faith. If we have no faith then we are not Christians. Our Lord Jesus Christ prays for the apostles, that their faith might not fail. If faith remains supported and strong through the fire, all the rest of the Christian walk will stand firm.
In 1 Pet.1:6-7 we see that a tried faith is much more precious than tried gold. Gold is the most valuable, pure, useful, and durable, of all the metals. Likewise, faith is the same as gold within the Christian's life. In both gold and faith, the fire brings about a purification and a separation of the dross. Gold does not increase and multiply by trial in the fire, it rather grows less. However, faith is established, improved, and multiplied by the fire and trials of oppositions and afflictions that it meets with.