This critical review covers the recent development of the catalytic properties of gold in the selective oxidation of organic compounds, highlighting the exciting contribution to the art of catalysis. The unique, outstanding properties of nanometre-scale particles of gold, a biocompatible non-toxic metal, have allowed the development of a new generation of stable and selective catalysts for the conversion of many organic feedstocks to valuable chemicals. A critical discussion of the results of different research groups is presented along with attempts to correlate the catalytic properties with catalyst morphology in non-equivalent series of experiments. Particular emphasis has been given to the international efforts towards optimised synthesis of products of industrial appeal such as propylene oxide, vinyl acetate monomer, cyclohexanol/cyclohexanone, gluconic acid and glyceric acid (168 references).