Can gold be transmuted in the Fullmetal Alchemist continuity?


In the Fullmetal Alchemist manga/2009 anime, we learn that alchemists must
obey three rules:

> Do not oppose the military
>
> Do the transmute gold
>
> Do not do human transmutation

Moreover, at one point in the early manga (probably chapter 3, according to
Wikipedia), we see Ed transmute what appears to be gold from rocks, when he is
duping Yoki into selling him rights to Youswell. (However, in the context of
my question below, this might also be attributed to [early-installment
weirdness](http://tvtropes.org/pmwiki/pmwiki.php/Main/EarlyInstallmentWeirdness),
since in the corresponding episode in the 2003 anime - episode 9 - I think we
see Ed giving Yoki rocks that have been coated with gold from coins Ed got
from Yoki.)

Both of the above seem to imply that transmuting gold is possible in the FMA
universe, yet this seems to be contradictory given some other manga details.
[In the first chapter, we learn from Al that with alchemy, one can only
transmute like from like.](https://i.stack.imgur.com/6cCgk.jpg) Being me, I
read this to imply that the sort of conservation of mass alluded to when
chemical equations are balanced _generally_ applies in terms of what alchemy
can do the FMA universe (at least in the more practical, mundane examples we
see in the manga). (On a second read, I'm really not sure if that's a
"correct" interpretation.)

Thus: is transmuting gold actually taken to be something possible in the FMA
universe (or is it even possible to come to a conclusion about this)?




Yes, transmuting gold is possible (at least in the manga). The reason why it's
forbidden is stated later in the series: It's forbidden so nobody can destroy
the economy by making the gold worthless.

The mass is also conserved, I see no problem there. A ton of coal makes a ton
of gold. Equal mass :).

Note: In the first adaption, Ed did not transmutate gold but instead coated
the coal in gold. Either it's not possible in the 2003 anime or he didn't want
to violate the law. (Thanks to キルア)




Yes, transmuting gold is possible (at least in the manga). The reason why it's
forbidden is stated later in the series: It's forbidden so nobody can destroy
the economy by making the gold worthless.

The mass is also conserved, I see no problem there. A ton of coal makes a ton
of gold. Equal mass :).

Note: In the first adaption, Ed did not transmutate gold but instead coated
the coal in gold. Either it's not possible in the 2003 anime or he didn't want
to violate the law. (Thanks to キルア)

