Here's how to break down the name:

* Au represents the element gold.

* S represents the element sulfur.

* The subscript 2 indicates that there are two gold atoms in the compound.

* The subscript 3 indicates that there are three sulfur atoms in the compound.

* The Roman numeral (III) indicates that gold has a +3 oxidation state in this compound.

Therefore, the correct name for Au₂S₃ is gold(III) sulfide.