Open the black and white clipart image in your copy of PhotoImpact. Hit Ctrl+D to duplicate it
and close the original. From the Tool Panel pick up your Magic Wand tool

In the Attribute Toolbar use these settings: Similarity: 50 and the Search connected pixels box UNchecked:

Click the Options icon on that same bar and make sure that: Preserve Base Image is UNchecked and Anti-aliasing is checked:

Click on a white part of your image. All the parts that are white should be selected now. Right click: Invert. Right click: Convert to Object
and keep selected.
Go to Edit in the Menu bar - Fill - Gradient tab - Magic Gradient (1) and click on the color box (2).

In the new box that opens, click on Edit and find the gold 008 preset (or any other preset of your choice and click OK.

In the box that opens find the Mode 10 preset and click OK again.

Then click OK to close the last box. Keep selected.
Go to Format in the Menu bar and click on Brightness & Contrast and click on the 3rd thumbnail on the top row and click OK.
Go to Format again and click on Focus and select the second icon on the top row. This will bring some shine on the gold.
Right click: Shadow: please use these settings:

Deselect. (PI 7 users: to deselect, hit the space bar and PI 8 and higher versions, click the Return key.Your image should look similar to this:

We wil continue with the background. Open your EasyPalette - Fill Gallery - Gradient and double click on Preset G135 or any other
preset of your choice.

In the Menu bar: Effect - Noise - Add Noise and click on Options: Please use these settings:

Go to Effect again: All - Stagger with these settings:

Right click: All. Right click: Border with these settings:

Right click: Convert to Object. Edit: Fill - Gradient - Magic gradient und use the same gold preset again.
Right click: Shadow with these settings:

Right click: Merge All. Optimize and save your work. You are done!
Here is another example of what you can do with the same image. For this I did not use the Fill Tool
but the Paintbrush with these settings: Transparency and Soft Edge both set at 50.
Another fantastic example of what you can do was made by Frankie. Thanks Frankie, for allowing me to put your image here
as another beautiful example.

That is all, I hope you have enjoyed this tutorial as much as I liked writing it for you.