Rapidly solidified Au80Fe20 ribbons were prepared either by melt spinning or by solidstate quenching of a homogenised master alloy. The as-quenched sample displays a paramagnetic behavior indicating a perfect solid solution of Fe in the Au matrix. Subsequent anneals have been performed to induce the precipitation of Fe particles. X-ray diffraction technique have been exploited to determine the alloy microstructure. The structural stability have been studied by measuring electrical properties in isothermal and tempering condition. The variation of magnetisation and electrical resistance have been measured after submitting the samples to plastic deformation. A logarithmic relaxation of the electrical resistance is observed in all studied samples after deformation. Magnetic hysteresis loops have been measured in as-quenched and annealed samples at different temperatures. X-ray diffraction and magnetic measurements indicate that thermal treatments have been successful in inducing the precipitation of both bcc and fcc Fe clusters.