Attack-wise, the Gold Dragon does little more than meet expectations. It can use a basic attack, Hit (quadruple-powered Attack), Thunder, Thundara, Thundaga, and Gigavolt . Additionally, if you put Reflect on your party, he’ll put Reflect on himself to bypass its effects. So don’t waste your time.
There are a few easy ways to go about this. One is using Ragnarok’s Metamorphose - there’s a fair chance, about 1 in 10 or so, that it’ll work. Though that’s more of a last-ditch effort, in my opinion.
The other is highly more obvious and has been spammed more often; Berserk. This boss can be hit with Berserk and forced into just Attack. Then use Phantom and you’re golden, pardon the pun.
And, of course, there is another strategy that simply requires a little more effort and Celes/Gogo. Try putting Shell on the party (Mighty Guard is efficient) to reduce damage from any screw-ups. Then simply have Runic be used every turn – with Celes and Gogo, you’re practically invincible. Put Vanish on and you ARE invincible, for the most part.
With either of the latter two methods, you’ll need to manually deal damage somehow. With the former, given what’s to come, I’d REALLY just stick to basic Attacks. Flood, Leviathan, Aqua Breath, and similar Lores make some nice damage. Valor will really help physicals, too.
If you’ve followed this walkthrough thus far, you should have just ONE dragon left. Anywho, after slaying the dragon and shaving off its gold plating or something, go through the doorway to the west. Go along the path for a while to soon return outside. Go north and onto the switch, then swap teams.
Go along the path south to soon see a door to the west. Open the chest near it and grab the Red Cap from within. Go through the door and go north two areas to find yourself in an area oddly reminiscent of the Magitek Research Facility. Go north to find two chests; open them for the Gauntlet and Nutkin Suit .
Backtrack all of the way south, then go further south to find another door. Go through and along the path west. You’ll soon find a chest with the Hero’s Ring . Then go north to the next area. Here, go west and use the Save Point, Tent and Save. Then continue towards the steps and you’ll fight…