"The Gift Of The Magi" is when Della shows that they are poor.
when Della puts forword a lot of effort to buy Jim's gift like cutting her hair for the money for his gift .And when she gets home she is worried that Jim will not like her along with waiting for him to come home.
The Climax of the story is when they shere their gifts that they have bought for each other.
Is when Jim and Della talk to each other after showing each other about the gifts.
When Jim tells Della lets put the gits away that they are to nice to use.