| Gudrún | 1 | ‘O mother, hear me! Mirth is darkened, dreams have troubled me, dreams of boding.’ |
| Grímhild | ‘Dreams come most oft in dwindling moon, or weather changing. Of woe think not!’ | |
| Gudrún | 2 | ‘No wind, nor wraith of waking thought – a hart we hunted over hill and valley; all would take him, ’twas I caught him: his hide was golden, his horns towering. |
| 3 | A woman wildly on the wind riding with a shaft stung him, shooting pierced him; at my knees he fell in night of woe, my heart too heavy might I hardly bear. | |
| 4 | A wolf they gave me for woe’s comfort; in my brethren’s blood he bathed me red. Dreams have vexed me, direst boding, not wind or weather or waning moon.’ | |
| Grímhild | 5 | ‘Dreams oft token the dark by light, good by evil, Gudrún daughter! Lift up thine eyes eager shining! Green lie the lands round Gjúki’s house.’ |
| Gudrún | 6 | ‘The roads run green to the Rhine-water! Who rides here lone, arrayed for war? His helm is high, his horse fleeting, his shield is shining with sheen of gold!’ |
| 7 | Thus Gudrún gazed, Gjúki’s daughter, from wall and window in wonder looking. Thus Sigurd rode, seed of Völsung, into Gjúki’s courts gleaming-harnessed. | |
| 8 | There Gjúki dwelt his gold dealing in Niflung land, the Niflung lord. Gunnar and Högni were Gjúki’s sons, mighty princes; men them hearkened. | |
| 9 | There Grímhild dwelt, guileful in counsel, grimhearted queen grey with wisdom, with lore of leechcraft, lore of poison, with chill enchantment and with changing spells. | |
| 10 | As ravens dark were those raven-friends; fair their faces, fierce their glances. With Huns they waged hate and warfare, gold ever gathering in great dungeons. | |
| 11 | Silent they sat when Sigurd entered Gunnar greeting, Gjúki hailing. | |
| Gjúki | ‘Who comes unbidden in battle’s harness, helm and hauberk, to halls of mine?’ | |
| Sigurd | 12 | ‘The son of Sigmund, Sigurd Völsung, a king’s son cometh to kingly house. Fame of Niflungs far is rumoured, not yet hath faded fame of Völsung.’ |
| 13 | There swift for Sigurd seat was ordered; the feast grew fair, folk were mirthful. There Gunnar grasped his golden harp; while songs he sang silence fell there. | |
| Of these things sang Gunnar |
14 | By mighty Mirkwood on the marches of the East the great Goth-kings in glory ruled. By Danpar-banks was dread warfare with the hosts of Hunland, horsemen countless. |
| 15 | Horsemen countless hastened westward; the Borgund lords met Budli’s host. In Budli’s brother their blades reddened the glad Gjúkings, gold despoiling. | |
| Of these things sang Sigurd |
16 | Then Sigurd seized the sounding harp; hushed they hearkened in the hall listening. The waste lay withered wide and empty; forth came Fáfnir, fire around him. |
| 17 | Dark hung the doors on deep timbers; gold piled on gold there glittered wanly. The hoard was plundered, helm was lifted, and Grani greyfell grievous burdened. | |
| 18 | High Hindarfell, hedged with lightning, mountain mighty from mists uprose. Brynhild wakened, bright her splendour – song fell silent, and Sigurd ended. | |
| 19 | By Gjúki’s chair Grímhild hearkened, of Gudrún thinking and the golden hoard. Gunnar and Högni gladly bade him in league and love long to dwell there. | |
| * | ||
| 20 | The Borgund lords their battle furnished; banners were broidered, blades were sharpened. White shone hauberks, helms were burnished; under horses’ hooves Hunland trembled. | |
| 21 | Grim was Gunnar on Goti riding; under haughty Högni Hölkvir strode; but fleeter was Grani, foal of Sleipnir; flamed all before the fire of Sigurd. | |
| 22 | Foes were vanquished, fields were wasted, grimly garnered Gram the harvest. Where Gjúkings rode glory won they, ever glory Sigurd greater conquered. | |
| 23 | Wide waxed their realm in world of old; Dane-king they slew, doughty princes. Dread fell on folk; doom they wielded; victory rode ever with the Völsung lord. | |
| 24 | High they honoured him, in heart loved him, Hun-gold gave him in the hall sitting. But his heart remembered house of Völsung, and Sigmund slain on sands afar. | |
| 25 | A host he gathered, help of Gjúkings; to the sea he rode and sails hoisted. His ship was shining with shields and mail; it was dragon-headed, dire and golden. | |
| 26 | As fire and tempest to his father’s land came Sigurd sailing; the sand was reddened. Clashed the cloven casque and hauberk; shields were splintered, shorn was corslet. | |
| 27 | Men learned there lived yet line of Völsung! Now of Völsung land was a Völsung lord. But the house once high was hollow, roofless; the limbs were rotten of their leafy tree. | |
| 28 | A man there walked mantled darkly, his beard was flowing, and blind his eye: | |
| Grímnir | ‘Grímnir hails thee, glorious Völsung! Far hence hath flown the fate of Sigurd. | |
| 29 | Where Sigmund drew sword of Grímnir, Gram shall shine not. Go thou, Völsung! Now king thou art of kings begotten, a bride calls thee over billowing seas.’ | |
| * | ||
| 30 | His fleet went forth with flaming sails; goldladen ships came glad to shore. Steeds went striding, stonefire glinted, horns were sounded; home rode Sigurd. | |
| 31 | A feast they fashioned, far proclaimed it, their highroofed halls hung with splendour; boards and beakers, benches, gilded; mead poured and ale from morn to eve. | |
| 32 | A king sat Sigurd: carven silver, raiment gleaming, rings and goblets, dear things dealt he, doughty-handed, his friends enriching, fame upraising. | |
| 33 | (There spake Grímhild to Gjúki’s ear:) | |
| Grímhild | ‘How long shall last league unbounden? Here is worthiest lord of world’s renown! Were a daughter offered, he would dwell for ever, our strength in strife, standing bulwark.’ | |
| Gjúki | 34 | ‘The gifts of kings are gold and silver; their daughters fair are dearly wooed!’ |
| Grímhild | ‘Gifts oft are given to greedy hand; wives oft are wooed by worthless men!’ | |
| 35 | Sigurd sat silent; the singing heard not but in heart Brynhild bright with splendour: ‘A queen was I once, and a king shall wed.’ Soon, thought he, soon I will seek my own. | |
| * | ||
| 36 | Grímhild went forth to guarded bower; deep horn she filled that was darkly written. She drink of power dreadly blended; it had strength of stone, it was stained with blood. | |
| Grímhild | 37 | ‘Hail, guest and king! Good go with thee! Drink now deeply dear love’s token! A father hast thou found, and fond mother, brothers sit nigh thee. O bravest, hail!’ |
| 38 | Deep drank Sigurd, drained it laughing, then sat unsmiling, the singing heard not. | |
| In came Gudrún golden-lovely, as moon uprising marvellous shining. | ||
| 39 | In came Gudrún gleaming-robéd, as flower unfolded fair at morning. Sigurd wondered, silent gazing; his mind was glamoured, mood confounded. | |
| * | ||