Could be explained as from 'bhaltr', 'spreads the light' or from the Germanic element 'bald', which means 'brave'.
In Norse mythology Balder was the sky god of the light and spring; a son of Odin and his lawful wife Frigga. He was killed by the traitor Loki after which the latter was severly punished. But he is also associated with the myth of resurrection in a number of legends. He is described as a very beautiful god, wise and merciful.
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