The Bombers trailed by seven points at the three-quarter time, but rode home on the back of a five-goals-to-one final term to win 15.15 (105) to 13.10 (88).
Following Stewart Crameri's fourth goal that gave Essendon the lead early in the fourth, Patrick Ryder produced an amazing goal to give them breathing space.
After marking on the junction of the 50m arc and left-hand boundary line, Ryder casually produced an around-the-corner kick to split the sticks and give them a 12-point lead.
Essendon was not headed again.
It was a moment of magic that helped the Bombers move to a 3-0 start ahead of next Saturday's blockbuster against fellow unbeaten team Carlton.
After cruising to a 21-point quarter-time lead, the Bombers then felt heat from the Suns for the rest of the night.
Inspired by Gary Ablett's phenomenal 44-disposal game, the Suns kicked five goals in each of the second and third terms to take the lead into the last.
Following his 43 and 40 touches in the opening two rounds against Adelaide and St Kilda, Ablett's effort is believed to be the first time in AFL history a player has started the season with three 40-possession games.
Of the disposals, 27 were contested and included 13 clearances.
He added two goals for good measure.
Ablett was just one reason for the much improved performance by the Suns who have been hammered after their two poor opening losses.
Thriving in his new midfield role, Karmichael Hunt inspired his teammates - and the crowd - with a nine-touch second quarter.
Aside from his effective work inside, he laid some bone-crunching tackles - and one enormous shepherd on Angus Monfries that left the Bomber dazed.
It was his most convincing performance since switching codes.
Essendon were led by Jobe Watson, who had 25 disposals, 20 of them contested.
ESSENDON 5.6 7.10 10.12 15.15 (105)
GOLD COAST 2.3 7.5 12.7 13.10 (88)
GOALS
Essendon:Crameri 4, Hurley 2, Jetta 2, Ryder 2, Watson 2, Bellchambers, Davey, Reimers
Gold Coast:Ablett 2, Bock 2, Hall 2, Brennan, Caddy, Harbrow, Matera, Rischitelli, Russell, Shaw
BEST
Essendon:Watson, Crameri, Hurley, Monfries, Howlett, Ryder
Gold Coast:Ablett, Harbrow, Hunt, Tape, Bock, Swallow
INJURIES
Essendon:Dempsey (hamstring)
Gold Coast:Nil
SUBS
Essendon:Courtenay Dempsey replaced by Ricky Dyson in the second quarter
Gold Coast:Sam Day replaced by Trent McKenzie in the third quarter
Reports:Nil
Umpires:Ritchie, Stewart, Grun
Official crowd: 17,069 at Metricon Stadium