Nanoparticle synthesis in a microemulsion route is typically controlled by changing the water to surfactant ratio, concentration of precursors, and/or concentration of micelles. The experiments carried out in this work with chloroauric acid and hydrazine hydrate as precursors in water/AOT-Brij30/isooctane microemulsions show that the reagent addition rate can also be used to tune the size of stable spherical gold nanoparticles to some extent. The particle size goes through a minimum with variation in feed addition rate. The increase in particle size with an increase in reaction temperature is in agreement with an earlier report. A population balance model is used to interpret the experimental findings. The reduced extent of nucleation at low feed addition rates and suppression of nucleation due to the finite rate of mixing at higher addition rates produce a minimum in particle size. The increase in particle size at higher reaction temperatures is explained through an increase in fusion efficiency of micelles which dissipates supersaturation; increase in solubility is shown to play an insignificant role. The moderate polydispersity of the synthesized particles is due to the continued nucleation and growth of particles. The polydispersity of micelle sizes by itself plays a minor role.