I have not heard that's there's Gold in a tape head reader before, ever.
But since there's almost a sliver of truth in something, I think the reference might be to there possibly being a sliver of Gold in a Hard drives readers arm. On the little mylar band that runs from the pivot to the actual head.
This is a pic from a YouTube, I don't know how much truth there is in it though.
While I'm on the subject, there's something similar looking on the brown mylar on the boxy looking ink jet cartridges, HP's.
When I have melted some of it, the tracks come off the plastic and while some have the Copper track as a backing, some look like they are a solid Gold track. YMMV.
While looking for a pic, I found this pic.
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