The speaker begins the poem by telling us that the story begins in late September, as she had just poured herself a glass of wine and begun to relax. As the speaker looks out of the window, she sees a male figure standing under the pear tree.
She can't see very well, but she can see that the figure is holding a twig and a pear made of gold. After this, the man makes his way into the house, and everything he touches, from the doorknobs to the blinds, turns into gold. After serving their meal, the speaker grows fearful. She tells the man to sit on the other side of the room so that he doesn't turn her into gold.
Next, the speaker questions his decision. She questions the practicality of his wish, saying that gold "feeds no one... slakes no thirst." Afraid of being turned into gold herself, she barricades her bedroom and keeps him at a distance. After this, she demands that he move out of the house into a caravan.
Visiting him later, the speaker describes how hints of him were visible in the nearby landscape. For example, you could see golden trouts on the grass and his golden footprints. The man had become thin and delirious, as he couldn't consume food without turning it into gold.
Finally, the poem concludes with the speaker considering how selfish his wish was. In making his wish, the man had absolutely no thought for his wife. Sadly, she thinks about how much she misses being able to embrace him.