We're going to pass on gold rings (5)
I believe the answer is:
adieu
'we're going' is the definition.
('adieu' is used to to say goodbye)
'pass on gold rings' is the wordplay.
'pass on' becomes 'die' (pass on can mean to die).
'gold' becomes 'Au' (Au is the chemical symbol for gold).
'rings' means one lot of letters goes inside another (some letters are ringed or contained by others).
'die' put into 'au' is 'ADIEU'.
'to' acts as a link.
(Other definitions for adieu that I've seen before include "Goodbye, mademoiselle" , "Some say it when leaving" , "Goodbye, madame" , "the last word in France" , "Auf wiedersehen" .)