Gold nanoparticles (Au-NPs) suspended in water where the suspension is a kind of nanofluid, were produced by pulsed laser ablation in liquids. Under the laser irradiation conditions up to 18h, the average size of the Au-NPs ranged from 7.1 to 12.1nm while their size-distribution tended to become narrower with effects of laser-induced fragmentation. Interestingly, the nanofluid showed an outstanding colloidal stability even after 1 month although no dispersants were used. The characteristic stability of bare Au-NPs suspension in water was found to be due to a large negative zeta potential of Au-NPs in water. The thermal conductivity of the Au-NPs (0.018vol%)/water suspension increased by 9.3±5.4% compared to that of pure water.