Abstract: Gold based contact materials fabricated by directional solidification and hibiting increased strength, hardness, wear resistance and undegraded electrical conductivity, are presented. An eutectic structure comprises a matrix metal consisting essentially of gold and a second phase rich in an alloying material. The second phase rich in an alloying material is disposed within the matrix metal in a plurality of elongated zones formed by directional solidification of the alloy with each zone having an elongated axis generally normal to a contact boundary surface of the solid. The second phase is rich in an alloying material selected from a group of alloying elements consisting of Be, Ca, Sr, La, Na, Th, Zr, Hf, Sb, Ge, Mo, Si and the rare earth elements. Selected ones of the alloying elements can be subjected to internal oxidation for forming hard, oxide particles of the second phase material.