Epoxidation made easy: Subnanometer gold clusters immobilized on amorphous alumina result in a highly active and selective catalyst for propene epoxidation. The highest selectivity is found for gas mixtures involving oxygen and water, thus avoiding the use of hydrogen. Ab initio DFT calculations are used to identify key reaction intermediates and reaction pathways. The results confirm the high catalyst activity owing to the formation of propene oxide metallacycles. Al green, Au yellow, O red, and C gray.