Gladdi gunnveitir — gengum fagrbúnir —
Þjaza þingskilum þjóðir hermargar,
Rínar rauðmalmi, rógi Niflunga,
vísi inn vígdjarfi; vakði hann Baldr þeygi.
Gunnveitir, inn vígdjarfi vísi, gladdi hermargar þjóðir – gengum fagrbúnir – þingskilum Þjaza, rauðmalmi Rínar, rógi Niflunga; hann vakði Baldr þeygi.
The battle-granter [WARRIOR], the battle-bold prince, gladdened the very numerous troops – we went beautifully adorned – with Þjazi’s <giant’s> assembly declarations [GOLD], with the red metal of the Rhine <river> [GOLD], with the strife of the Niflungar <legendary heroes> [GOLD]; he did not wake Baldr at all.
[5] Rínar rauðmalmi: ‘[…]malmi’ B, ‘rinar ryð malme’ 744ˣ
[5] rauðmalmi Rínar ‘with the red metal of the Rhine <river> [GOLD]’: Although this kenning conforms to the type ‘fire of water’ (cf. Note to st. 5/7), the reference to the river Rhine has a special significance in the context of the legend of the Niflungar (Meissner 228-9 and see Note to l. 6 below), because the heroes Gunnarr and Hǫgni, who had Sigurðr killed and then took possession of the gold-hoard the latter had taken from Fáfnir, hid the gold in the river Rhine, in a spot where it has never been found (cf. SnE 1998, I, 48).