A cable with magnetic mounting assembly having a cover assembly, a magnet assembly, a cable support assembly, and a friction member. The cover assembly has a base wall, a lower lateral wall with lower cutouts, a concave face, and an upper lateral wall with upper cutouts. A hinge joins the lower lateral wall and the upper lateral wall. The magnet assembly has a magnet and a magnet support. The cable support assembly has first and second support spacers. The friction member has a ring base with elongated protrusions. When assembled, the cover assembly houses the cable support assembly, the magnet assembly, and the friction member. First and second support spacers define a cavity between them that aligns with holes defined by the lower and upper cutouts to receive a cable therethrough. The concave face is mounted onto any surface attracted to the magnet.