Chapter XLIII: Act II: By the Rhine. Alberich and Hagen discuss how to get the ring

Siegfried comes, tells how he has obtained a bride for Gunther and how he spent the night with her but put a sword between himself and her. Brünnhilda rides up, recognises the ring on Siegfried’s hand, and declares that it was he, and not Gunther, who was with her. Hagen stirs everybody up against Siegfried, and decides to kill him next day when hunting.