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That was something I really appreciated about the movie--showing that moment when Gandalf touches the ring really drove home the reality that he had no choice but to leave the ring with Frodo.

Gandalf never actually touches the ring does he? In the book, I mean (I'm sorry, I haven't done my homework yet--too busy with work).

I wonder, too, if he figured that the ring would have no real effect as long as Frodo never put it on or kept it with him. If he just had it in the house, hidden away somewhere, then it wouldn't be a problem--at least, maybe that was Gandalf's rationale.

The way Frodo responded to the ring--putting it away and never using it or taking it out--seemed to justify Gandalf's trust that the ring would not tempt him and would not have an effect on him...until and unless he used it.

-penny

He only touches it in the envelope, like in the film.

..."Very well," said Bilbo, "it goes to Frodo with all the rest." He drew a deep breath "And now I really must be starting, or somebody else will catch me. I have said good-bye, and I couldn't bear to do it all over again." He picked up his bag and moved to the door.
"You have still got the ring in your pocket," said the wizard.
"Well so I have!" cried Bilbo. "And my will and all the other documents too. You had better take it and deliver it for me. That will be safest."
No, don't give the ring to me," said Gandalf. "Put it on the mantelpiece. It will be safe enought there, till Frodo comes. I shall wait for him."
Bilbo took out the envelope, but just as he was about to set it by the clock, his hand jerked back, and the packet fell on the floor. Before he could pick it up, the wizard stooped and seized it and set it in its place. A spasm of anger passed swiftly over the hobbit's face again. Suddenly it gave way to a look of relief and a laugh. "Well, that's that," he said. "Now I'm off!"...