The Blues chairman and co-owner also hinted that the on loan from Arsenal winger, who has been released on parole having served a third of a three-month sentence for drink-driving offences, may even be back in the Blues squad for this weekend's game against Tottenham Hotspur at St Andrew's.
"I'm thrilled," Gold told Radio Five Live.
"We're looking forward to him starting training and I'm optimistic that he could even be on the bench on Saturday, but that will be up to Steve Bruce of course.
"He's absolutely thrilled to have been released and he's looking forward to getting back into training.
"I think it's a wake-up call for a young man who has made some mistakes and I think he will benefit from it. Afterall it's thirty days he's spent in prison and I'm sure he won't want to be going back there.
"I've only met him half-a-dozen times but in those moments I found a very nice young man that bitterly regretted his mistakes.
"I think he will now knuckle down, work very hard and prove to everybody that he's a proper person.
"We'll be looking after him and giving him all the support that we can.
"He's got some very special people around him now in Steve Bruce and John Benson, our administrator. Karren Brady will also be involved as will Eric Black.
"All of these people are very, very good people and he's in good hands.
"It's now up to him to prove not only that he's an outstanding player but also somebody that can integrate back into society and prove that he's a proper person."
Pennant was released from Woodhill Prison, Milton Keynes on Thursday morning with part of his parole stipulating that he wear an electronic tag for two weeks and face a night time curfew.