Gift wrapping paper is welcome in the recycling system. But it tends to be difficult to recycle because of glitters, intense dyes, and gold & silver stamping. So the out put of recycling is very low quality paper.
Decorative paper that is bonded to foil will not be recycled. Don't recycle paper bonded to plastic or metal.
However if there are just tiny flecks of gold or silver ink, don't worry about it! Recycle it.