Gold is a precious metal element and contains no ferrous material. Therefore, pure Gold has no magnetic properties and will not be impacted by magnetic fields. In pure form, Gold is inert and malleable so, in order to make it more practical and durable for commercial use, it is often combined with harder and more economical metals in an alloy. These alloys can contain gold mixed with other types of precious or noble metals, The alloys may also contain ferrous or non-ferrous metals. The ones containing ferrous material may be considered partly magnetic.

Metals that can be combined in an alloy with Gold include Silver, Copper, Nickel, Iron, Zinc, Tin, Manganese, Cadmium and Titanium. The addition of some of these metals can create a paramagnetic gold alloy that is only slightly magnetic. The proportion of gold content in an alloy is measured in Karats. Pure Gold is valued at 24 Karat. An alloy of Gold containing 50% of another metal is classed as 12 Karat. This Karat rating is often used to value or classify Gold jewellery and ingots.