Thermal decomposition methods will give you much better size control whereas co-precipitation methods are easier but usually have larger polydispersity.
See Sugimoto and Matijevic, Jour Colloid Interface Sci, 74(11) 227-243 (1980). Alternatively, see some of our more recent manuscripts: J. Wang, W. White and J. Adair, “Optical Properties of Hydrothermally Synthesized Hematite Platelet Pigments,” J. Am. Ceram. Soc., 88[12], 3449-3454 (2005).
J. Wang, W.B. White, and J.H. Adair, “Near-infrared Luminescence of Ferric Oxide Particles,” Materials Letters 60, 2013-2016 (2006). Shape control is reported with optical properties. JH Adair
Thermal decomposition methods will give you much better size control whereas co-precipitation methods are easier but usually have larger polydispersity.
First, synthesize iron oxide nanoparticles in nonaqueous medium. Purify it, then add the source of gold and via galvanic reactions you will get hybrid structures. Based on the parameters like concentrations of both, capping molecules, pH of solution and temperature, you will get different structures, maybe decoration of Au on iron oxide, core shells, alloys and so on.
Check out the step by step process given in Chapter 2 under IOMNPs of the my book, Nanomaterials for Medical Applications published by Elsevier, 2012. It also provides advise on making sure that the resulting nanoparticles are monodisperse. (The process was adopted from Xie, et al in Pure and Applied Chem, 2006.) The chapter also provides modifications of the iron oxide nanoparticles to make them water soluble. All the processess are described in an easy to follow step by step protocol.
See some of our papers that provide easy solutions:
-Self-Assembly of Metal Oxides into Three-Dimensional Nanostructures: Synthesis and Application in Catalysis.
V. Polshettiwar, B. Baruwati, R.S. Varma: ACS Nano, 3, 728 (2009).
-Bulk Synthesis of Monodisperse Ferrite Nanoparticles at Water-Organic Interface under Conventional and Microwave Hydrothermal Treatment and Their Surface Functionalization.
B. Baruwati, M.N. Nadagouda and R.S. Varma: J. Phy. Chem.C, 112, 18399 (2008).
This review could be helpful for you: "From iron oxide nanoparticles towards advanced iron-based inorganic materials designed for biomedical applications", Pharmacological Research 62 (2010) 126–143
First, you need define what kind of nanoparticle do you want, because are many. Then choose the better method. You must have in mind, that "colloidal iron oxide" is usually called Ferrofluid and synthesize the nanoparticles will not give to you a stable solution. You must cover the nanoparticles with something like citric acid, lauric acid... but also depends of the carrier fluid. So first you really need know what kind do you need. I use the co-preciptation method, because is cheap and easy, and cover with citric acid to suspend de nanoparticles in aqueous medium. You can add gold nanoparticles by SiO2 or polymeric coating through differents ways. There are no better way at all, just the better method to do what you need.
I agree with Robert Taylor. In general, hydrophobic capping agent is used in thermal decomposition method. If you want hydrophilic nanoparticles, then surface engineering is required after synthesis. If you want pls see the articles of Simple synthesis of superparamagnetic magnetite nanoparticles as highly efficient contrast agent
Our paper could be helpful for you; please see this, Y. Khan, S. K. Durrani, M. Siddique, M. Mehmood, Hydrothermal synthesis of alpha Fe2O3 nanoparticles capped by Tween-80, Mater. Lett. 65 (2011) 2224-2227