Crossword Genius

I leave fold foremost in old gold town (7)

Ross

I believe the answer is:

bendigo

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'town' is the definition.
(I have seen 'Victorian town' mean 'bendigo' so perhaps 'town' could also mean 'bendigo')

'i leave fold foremost in old gold' is the wordplay.
I cannot quite see how this works, but
'i' is present in the answer.
'leave' could be 'go' and 'go' is present in the answer.
'fold' could be 'bend' (synonyms) and 'bend' is located in the answer.
This accounts for all the letters.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for bendigo that I've seen before include "Victorian town" , "Do begin (anag) - Australian town" .)

I've seen this clue in the Sydney Morning Herald.
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