When Bilbo regains consciousness and tries to make his way out of the cave, he finds a ring that he absentmindedly pockets. This incident, in Chapter 5, marks a dramatic moment in his adventures, for the ring confers powers of invisibility on whomever wears it. Bilbo encounters old Gollum, a slimy, murderous creature who kills and eats Goblins and others who stray into the cave. They exchange riddles, and Gollum discovers that Bilbo has the ring, which is Gollum's favorite possession. At the same time, Bilbo puts on the ring and discovers its magical power. Pursuing the invisible Bilbo, Gollum inadvertently shows him the way out of the cave. Bilbo has the opportunity to kill Gollum, but decides his invisibility is an unfair advantage and, instead, leaps over his head through the mouth of the cave.
After he is outside, Bilbo plans to go back and rescue his friends but finds they have escaped, too. He tells his tale and gains their respect. Then they all run away from the Mountains, fearful of the Goblins. They are chased up into trees by Wargs, menacing wild wolves. Gandalf chases the Wargs away, but the Wargs soon return with Goblins and try to smoke Bilbo and the dwarves out of the trees by setting fire to the forest. Bilbo and the dwarves are rescued by eagles, who fly them to their nest. After spending the night in safety, they resume their travels east and Gandalf takes them to the house of Beorn, the skin-changer, who outfits them for the next leg of their journey, through the forest of Mirkwood. At the end of Chapter 7, Gandalf leaves them at the edge of Mirkwood, warning them not to stray from the path. Gandalf does not reappear until the Battle of Five Armies near the end of the book.
