Former Arsenal midfielder Song signed for the Hammers on a second season-long loan from Barcelona earlier today, but the Cameroon international is currently carrying a foot injury which kept him out of pre-season.
However, Gold told talkSPORT that he is confident the 27-year-old can prove that he was worth bringing back to Upton Park despite his injury history.
"Alex Song does have a bit of a history [with injuries]," he said.
"However when quality players like him become available, sometimes you have to take a risk and that is what we have done.
"I do not think that it is a big risk, the injury is not life threatening and I am optimistic."