Golden sheen obsidian is believed, by crystal practitioners, to be particularly suitable for scrying. It is also thought to be ideal for balancing energy fields and releasing the ego. The reflective nature of obsidian makes it one of the first stones used in self-reflective meditation, internal growth and self-understanding. The stone is not thought to give energy, but to help seekers discover where healing needs to happen.

Golden sheen obsidian is affiliated with the root chakra, though it is said to have applications to the solar plexus and third eye chakras. It is assigned to the western astrological sign Sagittarius.