The correct option is B Copper
From the given metals, magnesium, copper, and sodium do react with oxygen whereas gold does not react on strong heating to form their respective metal oxides.
On the other hand, these elemets behave slightly differently with water. Magnesium and sodium react even with cold water while gold and copper do not react with water.
Therefore, the metal that reacts with oxygen, but not with water is (b) Copper.