King Midas encounters a mischievous elf who demonstrates the power of the golden touch by transforming his cat into gold, only to return it to its original form with a clap. Ignoring the elf's warning about the curse that accompanies such a gift, Midas eagerly demands the ability to turn everything he touches into gold. Initially thrilled, he soon realizes the dire consequences during a meal, unable to eat anything without it becoming gold. Terrified of starvation, he calls upon the elf and reluctantly agrees to relinquish all his possessions to reverse the curse.