Clean the molding thoroughly with a multi-purpose cleaner and a rag or cloth. Remove any dust or debris to help make the gold leaf removal process simple and effective. Allow the molding time to fully dry.
Scrape off the majority of gold leaf from the molding using a razor or fine scraper, both of which can be found at most hardware stores. Use caution when scraping in order not to damage the molding.
Remove any remaining gold leaf using paint stripper. Small cans of paint stripper can be found at most hardware stores. Spread a layer of newspaper around the work area to protect flooring and furniture. Apply a layer of paint stripper to the molding using a cloth or brush and allow it 10 minutes to take effect. Using the scraper or razor, scrape away the remaining gold leaf. Dispose of the cloth or brush as paint stripper is highly combustible.
Sand down the molding to remove any lasting gold leaf -- reaching small corners and edges -- and to smooth the overall surface of the molding. This will prepare the molding to receive new paint or lacquering.