We report the rapid synthesis of gold (Au) nanoparticles by mixing an aqueous solution of HAuCl4, CTAB and ascorbic acid by appropriate ratio, followed by the addition suitable amount of NaOH to maintain the pH of the solution. We have studied the formation of nanosized Au particles by both microscopic and spectroscopic characterization. The UV-Vis absorption spectrum of the sample shows the appearance of absorption band at 529 nm, which proves the quantum confinement of gold particles at the nanometer range. TEM image suggests that the as synthesized Au nanoparticles are spherical in shape and the particle size is in the range of 7-20 nm. The synthesized particles are found to be stable and hence suitable for potential application in various fields.