According to Christian belief gold, frankincense and myrrh were the three gifts the wisemen (Magi or Three Kings) brought from the East to celebrate the birth of baby Jesus (Matthew 2:11). Infact frankincense is mentioned 22 times in the bible.
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King James Version of the Bible
Book of Leviticus

Chapter 2

2:1 And when any will offer a meat offering unto the LORD, his offering shall be of fine flour; and he shall pour oil upon it, and put frankincense thereon:

2:2 And he shall bring it to Aaron's sons the priests: and he shall take thereout his handful of the flour thereof, and of the oil thereof, with all the frankincense thereof; and the priest shall burn the memorial of it upon the altar, to be an offering Frankincense.