The Blues would leave St Andrews and become tenants at the new stadium that would also be used for other events, reports the BBC.
Gold said: "Birmingham is one of the great cities of Europe, and it has many cultural centres, but it does not have a great stadium and it should have.”
The proposed 50-acre site, on land owned by the city council, is currently home to Birmingham Wheels Park go-kart track.
The Las Vegas Sands Group, one of America's biggest gambling companies, has agreed to underwrite the whole cost of the venture.
Gold added: "There are four options for us. We could do nothing. If you can survive on a 30,000 capacity without burdening yourself with debt - and we have no debt - then there is a case for that.
"You could rebuild the main stand at a cost of £12million to increase the capacity by five or six thousand - but they would be the most expensive seats in the Premiership.
"We could build a brand new 40,000-seater stadium on our own which I think, unless we received help, does not seem feasible.
"Then there is that fourth possibility that the city of Birmingham builds a stadium which we all share.
"Manchester has proven that it can be done with the City of Manchester Stadium where Manchester City play. I believe that a great city like Birmingham should have the same."
