The message sent to Gold by the fan read: “Is today the day we get rid of BFS?? @davidgold fingers crossed.”
Gold’s subsequent favouriting of the tweet increased speculation that Allardyce - BFS is a derogatory nickname bestowed upon him by unhappy supporters - was heading for the Upton Park exit and saw his odds to be the first Premier League manager to be sacked this season slashed.
However, Gold took to Twitter on Tuesday morning to stress his actions had been an error due to jet lag following a long flight from New Zealand, where the Hammers lost both matches on their pre-season tour.
He tweeted: "After a 33-hour flight from New Zealand, I was in my car scanning through my tweets and it seems I accidently favourited one.
"It has made some of the papers today so I should clarify that I did not and would never deliberately or intentionally endorse a tweet that questions our manager's position.
"Lesson: don't use twitter when you're jet lagged!"
Allardyce, 59, is out of contract next summer and his long-ball tactics have consistently come under fire from West Ham fans.
His preparations for the forthcoming Premier League campaign also suffered a major blow at the weekend when striker Andy Carroll was ruled out for four months with a heel problem.