No? Magic circles use the magic energy in the environment, no magic circles draws from your magic energy, i.e your soul.
Also you’re not actually making the material, you’re making a mimic of the material. Magic Gold is different from actual gold. Magic fire is different from regular fire.
You’re converting magic energy into your desired element, also magic from the soul can be any magic at all, at will. You could have literal cum magic if you imagine it with primitive magic.
This form of magic relied upon Magic Energy - which was found in the air, as well as in the mind. The Magic Energy could be summoned forth as a Magic Circle, which then produced the magic itself. When someone ran out of Magic Energy, they used a process known as Charging to fill their body up with the dormant Magic Energy in the atmosphere.
Yoruh arguing about why fire magic isn’t possible, ya, but then someone said something about it mimicking its real world varient and magic fire being different from actual fire.
There’s magic energy in the air everywhere produced by that Chaos thing.
When you charge your magic energy, you become some sort of antenna able to collect magic energy from the air.
Magic circles are just a tool used by the majority of wizards to cast their magic until they “learn” how to cast magic without them (like curses or maybe the awakened form of your magic). I guess we can see magic weapons as another tool to cast magic.
What you casted is just magic energy in whatever way you knew. If you only know fire magic, then you will only be able to cast your magic energy in the form of magic fire.