कनकं कुण्डलत्वेन तरङ्गत्वेन वै जलम् ।विनिर्णीता विमूढेन देहत्वेन तथाऽऽत्मता ॥ ७२ ॥
In plain words
Gold gets settled as an earring. Water gets settled as a wave. And in exactly that way, someone lost in delusion has settled it: what you are, Ātman itself, is a body.
Close to the Sanskrit
Gold [is settled upon] as earring-ness, water indeed as wave-ness; likewise Self-hood has been settled upon, by the utterly deluded one, as body-ness.