Answer:
Sometimes it's silver but also gold. Printed on paper it's a treasure to hold. What is it?
I'm a small ring shaped fried cake, often with bavarian cream or fruit filling, and sometimes covered in icing and sprinkles.
What is full of holes but still holds water?
What sphinxes employ and players enjoy.
They are the group who manages the winged engines of war.
It flows out of the soil, It burns you if it boils, And holds us in its coils, More valuable than gold, As black as it is old.