“Cold Irons Bound” was recorded at Criteria Studios in Miami, Florida in January 1997.

It is not clear what the song’s title refers to. The phrase “cold irons” could mean handcuffs, literal as well as metaphorical ones. Maybe the protagonist is headed for prison or he is bound by the love for the person he addresses throughout the song.

Rudyard Kipling’s poem “Cold Iron” (1910) may have been the inspiration for the title.

So he made rebellion ‘gainst the King his liege,
Camped before his citadel and summoned it to siege.
'Nay!’ said the cannoneer on the castle wall,
‘But Iron – Cold Iron – shall be master of you all!’

Dylan has performed “Cold Irons Bound” in concert numerous times and in very different arrangements compared to the album version.
https://www.youtube.com/watch?v=9hO-83CIVKM