What is the value in ohms of a resistor colored brown red yellow gold?

The first band, brown, indicates the digit 1.
The second band, red, indicates the digit 2.
The third band indicates the multiplier. For yellow, this is 10000.
12x10000 = 120,000 ohms.
The last band is an indication of the tolerance of the resistor; gold means the actual value is within 5% of the stated value.