There's nothing much you can do to kerb Golden Cane Palms. They're quite tough and they just keep going. There appear to be a number of varieties of them. I had one that remained a single trunk for over 10 years before it produced a second trunk. There's been 2 trunks now for a few years without any sign of more coming, so far. Another one only had five trunks and no new shoots. But it seeded like crazy and ended up being in a forest of palms. Other clumps of them I have produce new stems like weeds. They'll do what they do.

Arecas are the worst! The only real solution to keep them from getting too big is to dig them up (not a small task -- usually requires a backhoe) and separate them into smaller clumps. I finally gave up on controlling mine and just let it grow. Yes, they'll come back because they aren't trees, they're grass, and they grow from the center. Unlike other palms, cutting the top out doesn't kill them. They just sprout back up from the bottom.

If you want to kill it forever, just pour a couple of boxes of salt around it and into the middle and water well.