Jinshan gold deposit is located in northeastern Jiangxi, South China, which is related to the ductile shear zone. It has a gold reserve of more than 200 tons, with 80% of gold occurring in pyrite. The ΣREE of gold-bearing pyrite is as higher as 171.664 ppm on average, with relatively higher light rare earth elements (LREE; 159.556 ppm) and lower HREE (12.108 ppm). The ΣLREE/ΣHREE ratio is 12.612 and (La/Yb)N is 11.765. These indicate that pyrite is rich in LREE. The (La/Sm)N ratio is 3.758 and that of (Gd/Yb)N is 1.695. These are obvious LREE fractionations. The rare earth element (REE) distribution patterns show obvious Eu anomaly with average δEu values of 0.664, and δCe anomalies of 1.044. REE characteristics are similar to those of wall rocks (regional metamorphic rocks), but different from those of the Dexing granodiorite porphyry and Damaoshan biotite granite. These features indicate that the ore-forming materials in the Jinshan gold deposit derived from the wall rocks, and the ore-forming fluids derived from metamorphic water. The Co/Ni ratio (average value 0.38) of pyrite suggests that the Jinshan gold deposit formed under a medium–low temperature. It is inferred from the values of high-field strength elements, LREE, Hf/Sm, Nb/La, and Th/La of the pyrite that the ore-forming fluids of the Jinshan gold deposit derived from metamorphic water with Cl>F.