Frances reels from a discovery. The Forsytes prepare for a night at the opera. Jolyon visits Louisa, but is spotted leaving by James, who comes to a realisation. Soames faces heartache.

Jolyon recalls his affair with Louisa but fails to reassure June. At Forsyte & Co., James's scheme to oust Jolyon backfires. And Soames solidifies his engagement to Irene with a ring.

Jolyon assures Frances and June he has cut ties with Louisa. Frances resumes her efforts to secure Horatio for June. In Paris, Soames begins to realise he doesn't fit in with Irene's friends.

At Forsyte & Co, the climbing Ceylon Gold share price casts doubt on Jolyon's cautious approach. Disaster strikes at the Ceylon Gold mine, prompting the share price to plummet.

Frances struggles to hold it together, fearing she is a source of gossip following Jolyon's departure. Irene admits to mourning the life she was promised. Jolyon and Soames argue.