From ge- +wôlt, from Old Saxonwāld. The presence of the prefix is a regional variation going back to Old Saxon.
Related to the verb wôlden(“reign, do as one pleases”) from the Proto-Germanic*walþą. Cognate with GermanGewalt(“power, violence”).
Pronunciation
Stem vowel: ô²
(originally) IPA(key):/ɣə'wɔːlt/ or IPA(key):/ɣə'wɔlt/
While the combination /ld/ originally lengthened the vowel in Old Saxon, in several Middle Low German dialects it was treated like a geminate, or had actually become /lː/, and in turn shortened long vowels occurring before it. Further, the vowel was shortened before /lt/ from final obstruent devoicing. Dialects then often begun to apply the more common vowel length across all forms.