Goldsmith, who helped organise the group's one-off reformation at the 02 Arena in 2007, suggested that Jimmy Page, John Paul Jones and Jason Bonham tour under a different name if they want to play together.
"I certainly don't think they should do a big tour because I can't see the point of it," he told the BBC.
"I doubt it will be called Led Zeppelin. I just think it's a lot of talk, I think it's wishful thinking. Whether they all come together and do something in the future, they may.
"I think some of the band really want to go out and do it and other parts of the band need to understand why they're doing it, and if there's no compelling reason to do it, then they shouldn't do it."
Bassist Jones confirmed yesterday that the group are auditioning singers to perform with them in future live shows.
Jack White, Myles Kennedy and Steve Tyler have been linked to the vocalist role.