Gould, an off-season signing from SuperSport United, has been ruled out for up to six months after rupturing his Achilles tendon in training on Tuesday.
Ex-Wits skipper Tefu Mashamaite partnered Eric Mathoho at the back in Chiefs' 2-1 win over Sundowns in midweek, with Baxter short of cover following the recent surprise departures of Thomas Sweswe and Dominic Isaacs.
"We'll be looking to probably loan someone. But I don't think there's any local club who'll do us any favours if we are gonna try and sign a player here," Baxter said in the Sowetan.
"So, it may be a player from abroad. But I can't make any sweeping statements here, I'm not making any promises because we've only discussed this at the executive level last night.
"It's a hole we'll try and fill. If we don't fill it, we'll get on with the players we've got. I've got confidence in them."