Depends exactly what you have... A quick read of Tim Rudman's book suggests that a 1% Gold Chloride solution is generally used in gold toner but there are other chemicals in there too to make a toner. Best ask whoever it came from exactly what is in there - is it toner or a 2% gold chloride solution...
If it is the full toner using a 2% gold chloride solution then there is probably no reason to dilute it. Commercially bought gold toner is usually used undiluted, straight from the bottle. When finished, put back in the bottle: it can be re-used many times until its effectiveness dies out.
Cheers, Bob.