Commenting on the soured relationship following years of success on BBC Radio 5 Live, Gold said: "It's very sad.
"I just wonder if it would have been more prudent to have used that wonderful phrase 'no comment'."
"So it really is very sad because what Sam has done for Bolton over the last six years is just short of a miracle. With limited funds he has done an amazing job.
"Equally, I must say the chairman Phil Gartside, who I have known for many years has also done a superb job.
"So here are two great men Bolton fans should feel very pleased to have had together at the same time, turning Bolton into a very serious football club.
"I feel it's a very sad day that they are now in conflict."