All 20 clubs met earlier on Thursday and decided that British-based system Hawk-Eye will be implemented in the Premier League from the start of the 2013-14 season.
"This is a start. Who knows where it will take us," Gold told Sky Sports News.
"Fans will have a big say in this, and also TV will have a big say. We want the big, bad decisions taken out of football, and this type of technology will do that.
"I am disappointed it has taken so long. Even if we didn't have actual goal-line technology, we do have television with instant replays, and we could have had a fourth official getting in touch to tell a referee if it was a goal. I think this will be fantastic."
Gold was also pleased that the Premier League clubs voted to approve proposals on financial regulation.
"We are happy they have been ratified so they'll go into the rule book, and it is a good day for the Premier League," he said.
David Gold is co-chairman of West Ham United along with David Sullivan.