I have read one article that in the Jewish Midrash, Ibrahim had asked GOD for the old age gift (white hair & wrinkled brow) so those people with old age can be recognized by the public to gain more respect and honor, so GOD told Ibrahim that it is a good idea and by you (Ibrahim) that shall start.
Thoughts? And do you know of any verse in the Bible that contradicts that story?
I gave some more thought to your question and I remembered the Teaching hereunder.
It is not connected with Abraham, though respecting of elders is a common international cultural norm.
Under Moses in the 1st Covenant written on stone.
 You I rise up before the >> hoary head <<
and honour the face of >> the old man <<
and fear your GOD (the Most High/ Highest). I am the LORD. (Jesus)
Under Jesus in the 2nd Covenant written in the heart by the Spirit of the Most High.
Under Jesus, the HEAD of the Church we have Old men/ Fathers/ Elders.
It does not speak about chronological age BUT of experience with GOD and his Son like Abraham was.
This is still happening today with some, ‘Strait Gate’ people.
 The >> Elders << who are among you I, (Peter the Apostle of GOD and Jesus,
the Mighty God) exhort,
who am also an >> elder,<< and a witness (eye witness) of the sufferings of Christ
and also a partaker of the glory (from GOD)
that shall be (eventually) revealed >> (to all nations)
 Feed the flock of GOD (The Most High) who is among you,
taking the oversight thereof, not by constraint but willingly;
not for filthy lucre >> (money), but of a ready >>(willing and loving) mind;
 Neither as being lords (civil rulers) over God’s (Jesus’) heritage (inheritance)
but being examples (of Godliness) to the flock. >> (believers in the Apostles teachings whom Jesus and GOD sent worldwide 200o years ago)
 And when the chief Shepherd (Jesus the Shepherd of Israel) shall appear (from heaven)
then you shall receive a crown of glory that fades not away. (immortality)
 Likewise, ye younger, submit yourselves unto the >> elder.<<
Yea, all of you be subject >> (servants) to one to another (in love),
and be clothed with humility
for GOD (the Father/ the Highest) resists the proud (individuals)
and he gives grace, (through Christ), to the humble.
 I, (John the anointed Apostle), write to you, >> fathers,<< (Elders)
because you have known him, (Jesus the Mighty God),
who is/ was from the beginning >> (with GOD)
I write to you, young men,
because you have overcome the wicked (disobedient/ evil) one. (individuals)
I write to you, little children, because you have known the Father. (the Highest)
 I have written unto you, >> fathers,<< (Elders)
because you have known him (Jesus, the God of Israel)
who is/ was from the beginning (with GOD the Father, the Most High).
I have written unto you, young men, because you are strong,
and the Word of GOD >> (Teachings from GOD) <<
abides, (is written by the Holy Spirit), in you
and you have overcome the wicked (disobedient/ evil) one. (individuals)
Christian writings are not all meant to be taken literally.
My beat wishes,
DISCLAIMER: The views and opinions expressed in these forums do not necessarily reflect those of Catholic Answers. For official apologetics resources please visit www.catholic.com.