Diffraction

Step 1: Magnetic nature of gold.
Gold is a diamagnetic substance. Diamagnetic materials develop induced magnetic moments opposite to the applied magnetic field.
Step 2: Effect of magnetic field.
When a diamagnetic substance is placed in a non-uniform magnetic field, it is repelled from regions of stronger magnetic field.
Step 3: Conclusion.
Therefore, a gold sphere experiences a repulsive force when brought near a powerful magnet.