The ability of a magnet to attract a substance depends on the material’s magnetic properties. Ferromagnetic materials, such as iron, nickel, and cobalt, are strongly attracted to magnets. These materials have unpaired electrons that align in a parallel fashion, creating a strong magnetic field. Gold, however, is a different kind of material. It is not characterized by this strong, inherent magnetism. As an example, consider placing a gold coin near a common refrigerator magnet; there would be no noticeable attraction.
The lack of magnetic attraction in gold is significant for several reasons. It plays a vital role in the use of gold in electronic devices, where magnetic interference could be detrimental. Furthermore, this property is crucial in distinguishing gold from other metals, especially in prospecting and refining processes. Historically, this distinction has been essential in determining the purity and value of gold artifacts and currency.