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Melee Weapon Attack: +14 to hit, reach 15 ft., one target. Hit: 17 (2d8 + 8) bludgeoning damage. Frightful Presence. Each creature of the dragon's choice that is within 120 feet of the dragon and aware of it must succeed on a DC 21 Wisdom saving throw or become frightened for 1 minute.
Off the top of my head, white dragons live up to 2200-2400 years as the shortest lived type. Gold dragons live up to 4500-5000 years as the longest-lived type. There's a handy chart in the 3.5 draconomicon that lays down an expected lifespan for each. The scenario you describe is very likely in terms of the lifespan.
It is noted in the Draconomicon that each dragon has a maximum age before the period of "Twilight" when rapid deterioration occurs. Whites die at the earliest around 2100 years while Gold dragons live to be the longest at about 4400 years (Dragonomicon: pages 10 - 15)
Gold dragons are the most powerful of the metallic dragons (in some versions they are the strongest of all dragons), and the most dedicated to defeating evil. They spend the bulk of their lives in human form, seeking out evil and punishing wrongdoers to the best of its considerable abilities.
Wyrmling, very young, young, juvenile, and young adult gold dragons tended to be solitary or lived in a clutch of 2 to 5 dragons; adults, mature adults, older dragons, wyrms or great wyrms would live solitarily, in a pair, or a family consisting of a couple of adults and several offspring.
Gold dragons are one of the only dragon types to tinker with the arcane aswell, you could make him a rather powerful wizard, showing the party that he is too powerful to fight without revealing his true form.
Each creature within 15 feet of the dragon must succeed on a DC 25 Dexterity saving throw or take 17 (2d6 + 10) bludgeoning damage and be knocked Prone. The dragon can then fly up to half its flying speed.