Can you trim the blue (or black - what ever it is... LOL) back so it is 1/4" all the way around? Then when you sew on the borders, only the gold will show. It is a really pretty panel though.
I also bought panels and found them to be off too. No amount of starching and stretching when I ironed helped, so I just did the best I could and when it was done, it didn't really show that much. Good luck!