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An array of single nonmagnetic metallic split rings can be used to implement a magnetic resonance, which arises from an inductor-capacitor circuit (LC) resonance, at 100-terahertz frequency. The excitation of the LC resonance in the normal-incidence geometry used in our experiments occurs through the coupling of the electric field of the incident light to the capacitance. The measured optical spectra of the nanofabricated gold structures come very close to the theoretical expectations. Additional numerical simulations show that our structures exhibit a frequency range with negative permeability for a beam configuration in which the magnetic field couples to the LC resonance. Together with an electric response that has negative permittivity, this can lead to materials with a negative index of refraction.