Skeat, in his Dictionary of English Etymology, writes that arsenic is borrowed from Latin arsenicum, borrowed from Greek ἀρσενικόν "arsenic", from ἄρσην "male", so arsenic etymologically means "a male principle" - "the alchemists had the strange fancy that metals were of different sexes" writes Skeat. But the Oxford Dictionary of English Etymology calls this a folk etymology on the part of the Greeks. According to the ODEE, ἀρσενικόν means "yellow orpiment" and is actually borrowed from Arabic الزرنيخ azzernykh (the AHD says Syriac zarnīkā). This was borrowed from Middle Iranian *zarnīk- from Old Iranian *zarna- "golden" (AHD). And *zarna- is from Proto-Indo-European *ǵhel- "to shine".
The suffixed o-grade form *ǵhol-to- became Polish złoto "gold" (cognate with Russian золотой), and złoty "golden" (OED).