[Regarding the effect "If your LP are lower than your opponent's: You can Special Summon this card from your hand."[1]
This is an Ignition Effect that can be activated in the hand.
[Regarding the effect "If this card is Normal or Special Summoned: You can add 1 "Gold Pride" Trap from your Deck to your hand."[1]
This is a Trigger Effect that can be activated in the Monster Zone.
It can also be activated during the Damage Step.
[Regarding the effect "If this card is sent to the GY: You can target 1 "Gold Pride" monster you control that was Special Summoned from the Extra Deck; banish up to 3 "Gold Pride" cards from your GY, and if you do, that monster gains 500 ATK for each card banished this way."[1]
This is a Trigger Effect that can be activated in the GY.
It can also be activated during the Damage Step.
When resolving this effect, banish up to 3 "Gold Pride" cards from your GY, and the targeted monster gains 500 ATK for each. These actions occur simultaneously.
When resolving this effect, if you have any "Gold Pride" cards in your GY, you must banish at least 1 of them.