I would imagine the mark is etched after the blade has been etched. This would seem to be the best method.
Gold plating involves gold on the molecular level, so it wouldn't affect the stencil. The plating is 24K, so it would not be affected by the etchant.
Stamped marks can be undercut, and gold inlays applied-but this requires the skills of a good engraver. The undercutting would be done before the blade has been heat treated.