I'm ashamed but I'm not certain if it is gold plating or brass. I had to polish it a great deal, and no plating came off, so it is likely to be brass. I paid about $15, which sounds too low for gold plating, but I'm no expert.
The gold plating was very thin on these and many were made with Copper caps.
The gold wears off and reveals the copper underneath, and the brass that is the rest of the razor.
Even with the gold worn off, they polish up nicely and shave very well.