Sound and sound frequency could improve postural sway in the elderly. The power spectrum intervals of the center of pressure (COP) displacement are associated with different postural regulations, which could be revealed by frequency analysis. The aim of the study was to investigate the effects of sound on dual-tasking postural control and conduct frequency analysis to distinguish postural regulations in the elderly. Fifteen young and 15 older healthy participants were instructed to stand on a force platform and performed the Purdue Pegboard test while hearing 50 dB sounds with sound frequencies of 250 Hz, 1000 Hz, 4000 Hz, or no sound. The total excursion, velocity, sway area, and power spectrum of low-, medium-, and high-frequency bands of the COP displacement were calculated in the anterior–posterior and medial–lateral directions. The percentages of low-frequency and medium-frequency bands in both directions were significantly different between with and without sound conditions, but not affected by sound frequency. Older adults showed a smaller percentage of low-frequency, larger percentage of medium-frequency, larger total COP excursion, and faster velocity in the medial–lateral direction. The outcome of the study supports the frequency analysis approach in evaluating sound effects on postural strategies in dual-tasking and reveals older adults utilize vestibular regulation as the primary postural strategy when the dual-task required visual attention.