ANSWERS: 3
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It's a verb. 'To glitter'.
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It is an adjective. In simple, modern English, the sentence could easily read "Not every shiny thing is made of gold". The verb in the sentence is "to be" with the "is" conjugation.
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I think it is an adjective. "All" being the noun and "glitters" describes "all". Katespana said it is a verb and I can see where that could be true, however the "is" is also a verb in that proverb and while not unheard of it is not usual to have two verbs together in a sentence.
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