The England and British & Irish Lions centre sustained the injury in the first half of Friday's 35-8 season-opening defeat at Newcastle and now looks set for a spell on the sidelines.
Te'o has damaged his arm before and has already had a plate inserted to try and reinforce it following his past problems.
The 30-year-old only started at Kingston Park due to a late withdrawal by Wynand Olivier and Gold admits there is plenty of concern regarding the problem.
He says the former rugby league star will now have a scan but appeared fairly downbeat about his chances of a speedy recovery.
"It's a major concern," said Gold. "There is a plate in his arm and it looks like he's damaged something around the plate.
"Obviously he will have to have a scan and we will see how it is.
"I hope it is not too bad as we would very much like him involved going forward. I think he was pretty focused on doing well, so it is disappointing for him."