If i were you, i would keep an eye open for traders with gold charms... then trade some red for gold.....
The red doesnt mean much when you start using it, since you can only put 1 or 2 charms in most weapons and armour....
You will have less gold charms, but using 1 gets you strength increases of 20 instead of 5 (for example - so it can be any stat or bonus)