Nice explanation, Flatbutterfly!
On this band structure for gold (OK, it's only computed) we see that some bands cross the Fermi level, making gold a metal.
https://arxiv.org/pdf/1203.4508.pdf1) So due to the density of electrons and holes present, the absorption from 5d to 6sp would be much stronger than within the bands that cross the Fermi level, leading to the observable energy threshold in the light absorption?
2) And light absorption due to 5d to 6sp would also be significant as compared with the reflection due to electron conduction, which alone would make a colourless mirror?
3) Is the plasma cutoff frequency an explanation to be forgotten? [I have no affinity with it nor opinion whatsoever]
Thinking at the assumption that absorption from 5d to 6sp competes with reflection by mobile electrons, I search for changes in the electron mobility, here due to the temperature
https://hypertextbook.com/facts/2004/JennelleBaptiste.shtmlthe resistivity drops /5 from room temperature to 77K and /100 to 4.2K, but I saw the same colour intensity for gold at 77K and assume that disappearance of colour at 4.2K would be known.
The absorption from 5d to 6sp, needing no additional momentum, must be independent on the temperature.
4) So would the conductivity hence reflectivity of gold at optical frequencies be limited by the electron's effective mass with little effect by their mean free path?
==========
While you're here, a different question:
Hall measurements combined with naive electron gas mental images result in about one mobile electron per atom in metals,
but
the heat capacity of metals is explained by the Fermi-Dirac distribution, which wants a very small proportion of mobile electrons, just around the Fermi level.
5) So what?