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.
[6] Niflunga: buðlunga C
[6] rógi Niflunga ‘with the strife of the Niflungar <legendary heroes> [GOLD]’: The Niflungar were the heroes Gunnarr and Hǫgni, sons of a legendary king Gjúki, together with their step-brother Guthormr and their sisters Guðrún and Guðný. Guðrún married Sigurðr Fáfnisbani ‘Slayer of Fáfnir’ who had come into possession of a fabulous horde of gold that the Niflingar coveted and for which they killed Sigurðr. Thus gold can be called the ‘strife’ of the Niflungar, even though it was merely its catalyst.