We report a comprehensive experimental study of optical and electrical properties of thin polycrystalline gold films in a wide range of film thicknesses (from 20 to 200 nm). Our experimental results are supported by theoretical calculations based on the measured morphology of the fabricated gold films. We demonstrate that the dielectric function of the metal is determined by its structural morphology. Although the fabrication process can be absolutely the same for different films, the dielectric function can strongly depend on the film thickness. Our studies show that the imaginary part of the dielectric function of gold, which is responsible for optical losses, rapidly increases as the film thickness decreases for thicknesses below 80 nm. At the same time, we do not observe a noticeable dependence of optical constants on the film thickness for thicker samples. These findings establish design rules for thin-film plasmonic and nanophotonic devices.