The Golden Hour is the the first and last hour of sunlight during the day when you'll find a certain photographic effect is achieved due to the quality of the light within these times.
The light tends to be warmer and softer. Shadows are more focused and pronounced as the sun is closer to the horizon. The sunlight is traveling at a slant striking subjects at an angle and not straight on.
Highlights tend not to be overexposed. This is due to the direct light of the sun not being as intense and harsh. Landscape photogaphers use this light a lot as the sunlight enhances, warms the ground colours. Also a favourite with painters too for the same reason. Portrait photography is favoured too as no fill flash is required as you can use the natural soft lighting and shadows. The worst time to photograph for harsh, too bold, brash sunlight is midday. Put it this way you don't get a sunset or sunrise at noon but but you do in the Golden Hour.
The image was captured towards the end of the Golden Hour, not optimum but enough to catch the yellow and golds in that Industrial Triangle of cranes, winches and sail masts along Ramsey Harbour Inlet and silhouette the building. I hope that all makes sense?