This is the 766th most frequent Czech word.
pravé
"Pravé" in Czech means "right" (direction) or "genuine" / "true," depending on context.
Here, pravé is used as an adjective meaning 'real' or 'authentic' to attribute the quality of being genuine to the noun 'zlato' (gold).
To je pravé zlato.
This is real gold.
In this case, pravé again functions as an adjective indicating authenticity or craftsmanship of the watches.
Mám pravé ručně vyráběné hodinky.
I have genuine handmade watches.
Here, pravé is used to mean 'right' or 'appropriate' as an adjective selecting quality suitable for the described location.