In the second act. Hagen, left alone to guard the ancestral home of the Gibichungs on the banks of the Rhine, is seen sleeping outside the castle in the moon light. A creature of sinister aspect crouches before him with its hands upon its knees. It is his father Alberich, the dwarf, who has come to him in a dream to incite him to further efforts to regain the ring. Hagen freely gives the assurance The ring I will ravish! Rest thou, nor rue, My soul swears it! Cease thou thy sorrow.
Alberich vanishes before the sun, and as its rays are mirrored in the Rhine, Siegfried appears to herald the coming of Gunther and Brunnhilde and to boast of his own prowess in winning the bride. He joyfully reminds Gutrune that she is pledged to wed. Then Hagen sum mons the vassals and tells them of their lord's approach ing marriage. This news they welcome with delight and begin to deck the altars for the ceremony. Soon Gunther leads in the pale and dejected Brunnhilde, who raises her eyes only when she hears Siegfried's name. Dropping Gunther's hand, she is about to rush impetuously into her husband's arms but is repelled by the coldness of his glance, and the fact that Gutrune stands before him. She falters out an inquiry and Siegfried tells her that he is about to wed Gunther's sister as Gunther is to wed her. She persistently denies her troth with Gunther and asks Siegfried pathetically whether he does not know her. Half fainting, she staggers against him and with a wave of his hand he gives her over indifferently to Gunther. Then Brunnhilde notices the flash of the ring, and demands in indignation how he dares wear a pledge which Gunther wrested from her hand. At mention of the ring, Hagen is on the alert. Siegfried denies that Gunther gave it to him, and declares that he took it from the dragon Fafner. Hagen hastens to get from Brunnhilde the assur ance that Siegfried could have secured it only by trickery and deceit and this being precisely the admission that he wishes, he proposes that the traitor shall straightway pay for his villainy. The misunderstanding deepens, for Brunnhilde, referring to their first meeting declares that she has been as a wife to Siegfried, while he, forgetful of all save his second love, insists staunchly that he has dealt honestly with his blood-brother and has not laid hands upon the bride. Brunnhilde's words half convince Gunther of Siegfried's treachery, and he gives way to indignation and distrust.
Siegfried affectionately draws Gutrune from the circle and all the company disperse save Brunnhilde, Gunther and Hagen. Gunther sits apart brooding over his dishonor and
shame and Brunnhilde gives way to a tempest of rage and grief. While in this mood, Hagen approaches her with proposals to slay the man who has betrayed her and she agrees, with the eagerness of desperation. Even Gunther gives his sanction to a crime which will make his sister a widow and the murder, which is to be explained as a hunting accident, is set for the next day in the forest.
The next day Siegfried appears on the banks of the Rhine in merry search of game which has escaped him. The three Rhine Daughters, whilom guardians of the magic treasure, appear on the surface of the stream and playfully promise to restore the quarry, if, in reward, the hunter will give them his ring. To tease them, he at first refuses, little though he values the trinket. Quickly they banish the smiles from their faces and predict that this very day he will die unless he intrusts it to their keeping. This threat defeats their purpose for Siegfried is not to be moved through fear. Putting the ring back on his finger, he declares that now he will keep it. The water-nymphs swim away with ominous words, while Sieg fried smilingly philosophizes : Alike on land and water Woman's ways now I learn, And him who their smiles distrusts They'd frighten with their threats; And should they both be scorned, They bait him with bitter words.
His meditations are interrupted by the merry music of hunting-horns. He responds to the call and Gunther, Hagen and their vassals join him. The drinking-horns and the mead are brought forth and as the men rest and drink, Siegfried, to entertain the company, begins relating incidents of his youth. As he is speaking, Hagen slyly squeezes into his drinking-cup the juice of an herb, which undoes the work of the magic draught. As he reaches that part of his recountal where Brunnhilde awakens at his kiss, and is telling joyously of how he made her his bride, Gunther starts up with a cry of surprise and anger. Two ravens, Wotan's messengers, fly across the scene and as Siegfried turns to see them Hagen smites him in the back with his spear. The hero falls dying and with his last breath murmurs the name of his beloved Brunnhilde. Hagen stalks moodily away and mournfully the vassals raise Siegfried's body on his shield and to strains of funeral music carry it back to the castle.