- King Midas is the only person known to possess the Golden Touch, which causes his hand to glow. He must wear special gloves so that he does not accidentally turn something or someone into gold, as he did once before with his daughter's fiance, Frederick. It is unknown how he got the Golden Touch in the first place, however.
- Rumplestiltskin has been known to be able to spin straw into gold using a spinning wheel.
- Cora Mills also wielded the ability to spin straw into gold, as she was mentored by Rumplestiltskin.
The only way to return something that has been turned to gold by the Golden Touch, is by using the enchanted water from Lake Nostos, which is said to restore anything that has been lost. This was proven when David Nolan used the water in order to return Frederick back to a human being, instead of a golden statue.