Many brands use the label "red" gold and some "pink" gold when they are in actuality the same color, but in this case I'm not sure if they are the same. I'd have to have a Panerai "pink" and "red" case side-by-side to see if there's a difference.
My gut feeling though is the Panerai red gold case may look slightly more red than the Panerai pink gold since they now use different terminlogy to differentiate the color of the cases.
- AT