The Hammers signed Byram from Championship club Leeds United earlier this week.
Gold rates the 22-year-old defender highly, and has claimed that he has the potential to become one of the best full-backs in England.
“Sam has the potential to be one of the best full-backs in the country and he is a player who could be with us for many years to come,” the 79-year-old has written on West Ham’s official website.
During his time at Leeds, Byram, who can also play as a right-winger, established himself as one of the best right-backs in the Championship.
The youngster created 21 chances in 25 Championship appearances for the West Yorkshire outfit during the 2013-14 season.
The Englishman scored three goals and created 39 chances in 39 league matches for the Whites during the 2014-15 campaign.
Byram scored three goals and created 24 chances in 22 Championship games for Leeds this season.
It could take the youngster some time to adapt to the Premier League, but he is certainly a player with a lot of potential.
West Ham have signed a truly remarkable right-back in Byram.