We study the electronic and magnetic structure of AuFe alloys for varying F
e concentrations. The basis of our study is the augmented-space recursion i
n conjunction with the local spin-density approximation. We study magnetism
from an itinerant-electron viewpoint and show that at low Fe concentration
s the random phase arrangement is the more stable phase at T = 0 K as compa
red to the ferromagnetic, antiferromagnetic and paramagnetic arrangements.
At higher concentrations the ferromagnetic arrangement becomes the most sta
ble but the average moment decreases with increasing Au concentration.