It tells the story of Þórir Oddsson (nicknamed Gull-Þórir, "Gold-Þórir"), a chieftain in Þorskafjörður, and his dispute with his neighbour Hallr.
Later, Þórir goes raiding with Hyrningr the son of Hallr of Hofstaðir, and obtains gold in Finnmark, where he defeats some dragons in a cave north of Dumbshaf.
When the men come back to Iceland, Hallr wants to get a portion of the gold on behalf of his son, although Hyrningr is satisfied with his lot.
Þórir kills both Hallr and his older son Rauðr, but is later reconciled with Hyrningr, who does not get involved in the feud.
[2] There is some relationship between material in Gull-Þóris saga and the version of Landnámabók compiled by Sturla Þórðarson.