Player given hand, being latest in series to receive gold (5)
I believe the answer is:
north
'player given hand' is the definition.
(bridge players are called north, south etc)
'latest in series to receive gold' is the wordplay.
'latest in series' becomes 'nth' (mathematical term).
'to receive' is an insertion indicator.
'gold' becomes 'or' ('or' is the heraldic name for gold).
'nth' going around 'or' is 'NORTH'.
'being' acts as a link.
(Other definitions for north that I've seen before include "A 24 [STAR]" , "Thorn (anag.)" , "Bridge position" , "coming up from Brighton?" , "Towards top of map" .)