What is the meaning of Gulf?

A hollow place in the earth; an abyss; a deep chasm or basin.

That which swallows; the gullet.

That which swallows irretrievably; a whirlpool; a sucking eddy.

A portion of an ocean or sea extending into the land; a partially landlocked sea

A large deposit of ore in a lode.

A wide interval or gap; a separating space.

A difference, especially a large difference, between groups.

The bottom part of a list of those awarded a degree, for those who have only just passed.

To engulf.

To award a degree to somebody who has only just passed sufficiently.

Source: wiktionary.org