That's exactly what it's designed for dude extreme engine temperatures/heat and it is completely flame retardant. I am going for substance over style, it doesn't matter that it's gold its the fact it actually serves a justified purpose is why I will be getting it done! Here is the blurb from the website of the company that makes it:-
Reflect-A-GOLD is a metalized polyamide polymer laminated glass cloth with a high temperature pressure sensitive adhesive for use in extreme temperature swing environments. It is lightweight and easy to apply and remove.
Highly effective material for firewalls, fuel cells, engine covers, under hoods, engine compartment, bulk heads, seat bottoms