When you purchase the Gold version, you get a life-long license for the version you purchased and one year of free updates. When this period is over, you can continue using the old version or renew your license with a significant discount to get another free updates year.
With the one-year subscription, you won't be able to use the version you purchased after 1 year.

What do you mean with "Gold Edition - Lifetime License"?

When I have the "Gold Edition", does this mean that I need not buy a new license every year in order to get the recent updates?

Thank you for an answer
Thea