Gold catalysts have superior activity in CO and other oxidations at low temperatures. Both a small (~ 5nm) particle size and the presence of a partly reducible oxide (ceria or a transition metal oxide) have a beneficial effect on the catalyst performance. The present paper reviews our recent studies focused on understanding the specific role of the Au particle size and that of the oxide (MO). Our personal viewpoint on gold catalysis is outlined. The effects of Au particle size and of the oxidic additive are distinguished by using several alumina-supported gold catalysts having different gold particle sizes and various oxidic additives. The most active catalyst in CO oxidation is the multicomponent catalyst Au/MgO/MnOx/Al2O3 with MgO being a stabilizer for the Au particle size and MnOx being the cocatalyst. This catalyst also exhibits good performance in selective oxidation of CO in a hydrogen atmosphere, a reaction relevant for the development of polymer electrolyte fuel cell technology.