So I can't remember what I've done in years previous, but I'm wondering if someone can answer this question for me. I'm not a consistent player and I know that things have changed with pet slots and maybe gold accounts?

Anyways:

Do I need an active Gold Account to use the Loyalty Pet Slot item AND create a pet?

You don't need GAs anymore. They are not tied to pet slots in any way now.

Perfect! Exactly the answer I was looking for. Thanks a bunch!