@arnowi The inscription actually goes counterclockwise. Runes were sometimes written that way, or even switched between each row, especially in elder futhark.

As this is made from a stamp, it’s also possible that they made it look right on the stamp, causing it to be mirrored when stamping the gold. Which could be because the goldsmith didn’t know runes themselves

There’s an image of (a copy of) the bracteate on wikipedia.
https://en.wikipedia.org/wiki/Vadstena_bracteate