Wrath surrounding old scold for period (4,3)
I believe the answer is:
iron age
'period' is the definition.
(iron age is a kind of period)
'wrath surrounding old scold' is the wordplay.
'wrath' becomes 'ire' ('ire' can be a synonym of 'wrath').
'surrounding' is an insertion indicator.
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'scold' becomes 'nag' ('nag' can be a synonym of 'scold').
'o'+'nag'='onag'
'ire' enclosing 'onag' is 'IRON AGE'.
'for' acts as a link.
(Other definitions for iron age that I've seen before include "Archaeological period" , "It followed the Bronze Age" , "prehistoric times" , "historical period" , "Very old period" .)