A 20% component is not going to have 3 digit bands.
Assuming the stated colors (Post #2) are correct, the sequence is either:
red orange black gold black
or
black gold black orange black
Having gold as a digit makes no sense, so that rules out the latter.
The gold could be either multiplier or tolerance. If it's a multiplier, then black is the tolerance. But black is not a standard tolerance band, so it is probably not a multiplier.
That makes it 23 with a multiplier of black (10^0) and 5% tolerance. Provided we can determine what the fifth black band is. More often than note, an additional band beyond the tolerance band is the temperature coefficient and a black band is 250 ppm/K
So, if it's a resistor, it would appear to be
23 Ω, 5%, 250 ppm/K
The problem with this is that 23 is not a preferred E24 value (22 and 24 are).
Are you positive that the second band is orange? Is there any chance that it is either red, yellow, or violet?
I haven't been able to five a chart for a five-band inductor in which the first band isn't silver (usually double-width) to indicate military grade. So while that doesn't rule out the possibility of it being an inductor,
Can you take a better-focused picture, perhaps of the other side?