At the moment it is compiling bigger projects on Ubuntu 10.04. Here you can install and integrate it easily with the binutils-gold package (if you remove that package, you get your old ld). Gcc will automatically use gold then.
Some experiences:
gold doesn't search in /usr/local/lib
gold doesn't assume libs like pthread or rt, had to add them by hand
it is faster and needs less memory (the later is important on big C++ projects with a lot of boost etc.)
What does not work: It cannot compile kernel stuff and therefore no kernel modules. Ubuntu does this automatically via DKMS if it updates proprietary drivers like fglrx. This fails with ld-gold (you have to remove gold, restart DKMS, reinstall ld-gold.
Make a directory where you can put a gold glue script. I am using ~/bin/gold/.
Put the following glue script there and name it ~/bin/gold/ld:
#!/bin/bash
gold "$@"
Obviously, make it executable, chmod a+x ~/bin/gold/ld.
Change your calls to gcc to gcc -B$HOME/bin/gold which makes gcc look in the given directory for helper programs like ld and thus uses the glue script instead of the system-default ld.
As a Samba developer, I have been using the gold linker almost exclusively on Ubuntu, Debian, and Fedora since several years now. My assessment:
gold is many times (felt: 5-10 times) faster than the classical linker.
Initially, there were a few problems, but they have gone since roughly around Ubuntu 12.04.
The gold linker even found some dependency problems in our code, since it seems to be more correct than the classical one with respect to some details. See, e.g. this Samba commit.
I have not used gold selectively, but have been using symlinks or the alternatives mechanism if the distribution provides it.
Just to complement the answers: there is a gcc's option -fuse-ld=gold (see gcc doc). Though, AFAIK, it is possible to configure gcc during the build in a way that the option will not have any effect.
At https://lld.llvm.org/ they give build times for a few well known projects. with similar results to my synthetic benchmarks. Project/linker versions are not given unfortunately. In their results:
gold was about 3x/4x faster than LD
LLD was 3x/4x faster than gold, so a greater speedup than in my synthetic benchmark
They comment:
This is a link time comparison on a 2-socket 20-core 40-thread Xeon E5-2680 2.80 GHz machine with an SSD drive. We ran gold and lld with or without multi-threading support. To disable multi-threading, we added -no-threads to the command lines.