I live near the San Francisco Bay, just down the peninsula from the city. For much of the year here, the fog rolls over the Santa Cruz Mountains and then recedes back to the ocean on a daily basis with a slower and lighter cycle of ebb and flow that parallels the ebb and flow of the ocean waves below. Sometimes the setting sun adds a golden edge to this rim of fog which I refer to as the ‘golden wave’.
Okay that’s the metaphor for this song. As to he meaning of the verses, I’ll get back to you on that.