you are right. Suvarnabhumi means "land of gold". Gold, here doesn't mean real gold or gold color. But it implies more toward richness, prosperity, wealth, or fertility. The name Suvarnabhumi was given by King Bhumipol.

First, I also heard they will move BKK to the new airport. But recently, the new plan calls for those 'low cost carrier' to operate from Don Muang, thus they will need another code. The new airport is still a year away from opening (maybe later than that by Thai standard).