I have a GT 200, same WL tone ring, possibly just a low spec neck, not sure, but I think it sounds really nice. Not played the Recording King, but they have a good rep. I would suggest you grab whichever comes up first fitting your criteria.

I've played (clawhammer) a friend's GT-250 and was impressed with both its sound and playability. I think it would make a good two-way banjo.
Haven't tried one, so I can't comment on the RK.

Basically the same banjo.

Both will have poly finish, but Gold Tone will have a thicker plasticy finish, the RK will have a thinner finish that feels better. Both necks will be less comfortable than the Deering neck (IMO, personal preference varies). Personally, I prefer RK and cannot stand the feel of GT necks. The GT WL-250 neck is also, I must say, one of the ugliest fretboards and pegheads I've ever seen on any banjo ever. Just atrocious.

The RK has a thin 2-ply rim, the GT has a thick 3-ply rim. Both are probably about the same "quality". Arguments can be made either way for which sounds better and is more appropriate for an openback with an electric/"whyte laydie" tone ring. YMMV. Without comparing them personally, it's a guess which you prefer. Personally I think thin rims sound better (and are a more accurate reproduction of the original), but that's just my opinion.

The RK has a Fiberskyn head, almost everyone would say you should replace that with a white frosted top or renaissance head. The GT comes with a renaissance head, which is nice. Banjo heads are 20 bucks and take 20 minutes to swap so this is not a deciding factor.

In theory the MSRP on the RK is $300 more that the GT, but in practice the RK is usually on sale for a couple hundred less than the GT. There is currently an RK on Guitar Center for $1000, the cheapest I can find the GT is $1200.

Also, RKs seem to be in dwindling supply.  Some retailers don't have certain models, Guitar Center is showing various Recording King products on clearance, and the RK website doesn't exist.

So if you can actually get the RK, see if Guitar Center has it on clearance and maybe you can get it at a better price than the Gold Tone. I like RK banjos for the same reasons KC offered above.

Thanks for the great comments. Locally I do not really have an ability to try these two only really some of the more entry level GT’s. I liked the look of the GT heavy gloss finish but didnt know about how some find causes your hand to drag. The comments here definitely gave me some further info to think about.

Good point about the neck. My GT 200 definitely has more drag than my other banjo, which is a cheap 'entry level' banjo where the neck is nowhere near as glossy and a lot freer for slides and general movement. To be fair, I don't find the GT neck bad, but the other one is better (although not tonally)