Your locket is from the Victorian era - I'd say late Victorian era, around the 1890s. Diamond mounted lockets were popular during this time and were available in gold, gold-filled, silver, gunmetal, and silver plated.
Many of these lockets were engraved with the owner's initials in a fancy script on the reverse. These styles of lockets might be used as fobs for watch chains during this period. Prince Edward's (who became King Edward VII) love of horse racing helped make good luck symbols such as horseshoes, a popular motif for jewelry during the late Victorian era.
In 1854, 9ct, 12ct and 15ct gold were legalized. Eighteen in roman numerals on the reverse, will not be the gold hallmark.
Interestingly, Queen Victoria who was adored during her reign, was awakened when she was eighteen years old, in the early hours of June 20th, 1837 to be informed that her uncle, the king of England had died and that she was now Queen.
Julie, I cannot see the mark which is possibly the maker's mark.