See gold lie around in bay (5)
I believe the answer is:
oriel
'bay' is the definition.
(thesaurus)
'see gold lie around in' is the wordplay.
'see gold' becomes 'or' ('or' is the heraldic name for gold**).
'around' is an anagram indicator.
'in' indicates putting letters inside.
'lie' anagrammed gives 'iel'.
'or' put within 'iel' is 'ORIEL'.
(Other definitions for oriel that I've seen before include "Bay window projecting from a wall" , "Opening" , "Loire (anag.)" , "One could look through this" , "Type of window; Oxford college" .)