i only know chasing as 'trim'-- a locket with gold chasing is a locket with an ornimental trim, not quite a braid, but braided--the way water in a mill chase tumbles over itself, and catching the light, looks braided..

gold (i suppose there are other types, but gold and chasing seem to go together like cold and beer) chasing can be applied to things besides jewelry... furniture, perhaps, but i have never heard any chasing as use above...