The structure and the stability of a new class of insertion compounds of noble-gas atoms of the type AuNgX (Ng=Kr, Xe and X=F, OH) have been investigated theoretically through ab initio molecular-orbital calculations. All the species are found to have a linear structure with a noble-gas-noble-metal bond, the distance of which is comparable to covalent bond length except the AuKrOH system, for which it lies in between the covalent and van der Waals limits. The dissociation energies corresponding to the lowest-energy fragmentation products, AuX+Ng have been computed to be -166.2, -276.0, -194.4, and -257.6 kJ/mol for AuXeF, AuKrF, AuXeOH, and AuKrOH, respectively, at the MP2 level of theory. The respective barrier heights corresponding to the bent transition states (Au-Ng-X bending mode) have been calculated to be 119.1, 74.9, 160.7, and 141.6 kJ/mol. However, three of these species are found to be metastable in their respective potential-energy surface, and the dissociation energies corresponding to the Au+Ng+X fragments have been calculated to be 112.9, 3.0, and 18.7 kJ/mol for AuXeF, AuKrF, and AuXeOH, respectively, at the same level of theory. An analysis of the nature of interactions involved in the Au-Ng-X systems has been performed using Bader's topological theory of atoms-in-molecules (AIM). Geometric as well as energetic considerations along with AIM results suggest a partial covalent nature of Au-Ng bonds in these systems. This work might have important implications in the preparation of a new class of insertion compounds of noble-gas atoms containing noble-gas-noble-metal bond.