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How does X% Chance of Finding Magical Items work for a party?

I was reading this question. Works the same way for gold or is it different? Could someone provide a explanation for this?

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The accepted answer specifically says it applies to gold find as well. – bwarner May 16 '12 at 19:31
Looks like it does o.O" I read that and didn't saw it. I was going to delete the question, but it's good milestone ... – Michel May 16 '12 at 19:37
@MichelAyres don't delete it, still good for SEO – Nick T May 16 '12 at 19:41
@NickT I'll not =) I was going to but them I though that like I was lost with this, someone may have this kind of problem too. as I said, it's a good milestone =) – Michel May 16 '12 at 19:48

marked as duplicate by Nick T, bwarner, spugsley, Michel, FAE May 16 '12 at 19:41

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Perhaps it could be more prominent in the accepted answer on your linked question, but as bwarner points out: "magic find in a party is averaged between party members...The same thing applies to gold find bonuses and bonuses to XP."

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