Colloidal gold is prepared by
Mechanical dispersion
Peptisation
Bredig's Arc Method
Hydrolysis
Electrical disintegration or Bredig's Arc Method process involves dispersion as well as condensation. Colloidal sols of metals such as gold, silver, platinum, etc. can be prepared by this method. The intense heat of the electric arc vaporise the metal, which then condenses to form colloids.
So, Option 3 is correct.