Spherical gold nanoparticles with a hydrodynamic diameter between 25 and 37 nm were prepared and stabilised with poly(N-vinylpyrrolidone) (PVP) or tris(sodium-m-sulfonatophenyl)phosphine (TPPTS). They were subjected to different cell culture media, e.g. pure RPMI, RPMI containing up to 10% of fetal calf serum (FCS), and RPMI containing up to 10% of bovine serum albumin (BSA), and the rate of agglomeration was studied by dynamic light scattering. In pure RPMI, a strong agglomeration was observed whereas in the RPMI–FCS and RPMI–BSA mixtures the particles remained well dispersed above 1 wt% protein concentration. The effect of PVP-stabilised gold nanoparticles on human mesenchymal stem cells (hMSC) was studied as well. No significant influence on the viability and chemotaxis was observed after incubation of hMSC with gold nanoparticles. However, gold nanoparticles induced the activation of hMSC as indicated by the release of IL-6 and IL-8.