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Pronunciation

Gothic was originally written in an alphabet purportedly invented by biblical scholar Wulfilas for his translation of the New Testament.  It contains a compilation of latin, greek, and cyrillic-type characters, some directly borrowed from these scripts, others slightly modified.  There is also a more ancient but less attested runic alphabet upon which some of the characters are based.

 Gothic
Trans-
literation
 Phœnetic Value
Name
 No.
 Runic Name
 Meaning
 a, ā  a, a:  ans, ahs, ahsa  1 ansuz  deity1
 b  b, β  baírkan  2  berkanam  birch
 g  g, γ, x  giba  3  gebō  gift
 d  d, ð  dags  4  dagaz  day
 ē  e:  aíƕus  5  ehwaz  horse
 q  kw  qaírþra  6  kwerþrō  apple tree?2
 z  z  iuja, azēts  7  algiz  elk3
 h  h, x, ç  hagl  8 hagalaz
 hail
 þ  θ  þiuþ  9  þurnaz, þurisaz  thorn, troll-demon4
,  i, ï
 ɪ  eis  10  īsaz  ice
 k  k  kusma, káunzama  20 kaunam, kenaz  ulcer, torch5
 l  l  lagus  30 laguz
 water
 m  m  manna  40  mannaz  man
 n  n  náuþs  50  nauþiz  need
 j  j  jēr  60  jēra  year
 u, ū  u, u: ūrus  70  ūruz, ūram  aurochs, slag6
 p  p  paírþra  80  perþ(rō)  dice-cup? pear tree?
 -  -    90    
 r  r  ráida  100  raidō  wheel, cart
 s  s  saúil  200  sōwilō  sun
 t  t  teiws, tius
 300  tīwaz  Teu (a god)
 w (y)  w, ʊ  winja, wunja  400 wunjō  joy
 f  f  faíhu  500  fehu  cattle, wealth
 (x)  k(ʰ)  iggws  600  ingwaz  Ing (a god)
 ƕ  hw  ƕáir  700  -  cauldron?
 ō  o:  ōþal  800 ōþala, ōþila  inherited land
 -  -    900    
1 The unlikely gothic equivalent ahsa has been purported to mean 'axle' or 'ear of corn.'
2 This is a nonsense word, probably intended to rhyme with 'perþrō,' though possibly meaning apple tree.
3 No idea where the names of this letter come from in gothic or what they mean, although 'ezec' from the Codex Vindobonensis may have been 'azē
ts,' meaning light or easy.
4 The original name of this run was þurisaz.  Probably the violent connotation caused  the name to be changed to þurnaz in some cases.  In the case of gothic, it took on the meaning 'good.'
5 No clue what kusma means.  Káunzama lines up with kaunam, but there is no trace of kenaz in gothic.
6 This was probably originally 'aurochs,' but in the north germanic languages this took on the meaning of slag. At this point, there would have been no difference in pronunciation between the decendants of 'ūruz' and 'ūram.'
For the most part, gothic letters are pronounced much as their transliterated equivalents, though there are certain diphthongs and consonant clusters whose values change according to their situations.

The voiced consonants b, d, and g are generally plosive [b, d, g], though they become continuant [β, ð, γ] when occurring between two vowels.  Furthermore, g may have become an unvoiced continuant [x] at the end of a word.  Further still, g became nasalised when geminate or before another velar consonant; i.e. gg = ŋg, gk = ŋk, and gq = ŋkw.  Click here for some more specifics and a little ranting about the pronunciation of g as well as some thoughts on the pronunciation of h.

The letter h is pronounced as [h] when initial except before a sonoroant (i.e. in hl-, hn-, or hr-).  In all other cases it is pronounced as [x] (or possibly [ç]).  

The letter i may be written as i or ï.  In the gothic script, ï indicated an i used at the beginning of a word or syllable (and thus not part of a diphthong).  It is rarely transliterated in this manner.

The sonorants l, m, n, and r may act as syllabics [­l̥, m̥, n̥, r̥]¹, such as in hagl, bagms, or figgrs.
¹ In pure IPA, these would be written [l̩, m̩, n̩, r̩], but for some reason it has become the convention in germanic linguistics to use a ring beneath syllabic letters (generally used to indicate an unvoiced consonant) instead of a vertical line. Please do not be confused - they are not unvoiced.
The letter x does not really exist in true gothic language.  This is a borrowing of the greek χ and is used only in greek words.  The letter w is often used to transliterate the greek letter υ, and as such is often transliterated into english as y.  This site is not terribly interested in revisiting biblical scholarship, and as such, these two letters can safely be ignored beyond knowing that the numerical value of x is 600.

Among the vowels, curiously there is no written equivalent of short o, short e, or long i.  These are written as diphthongs.  (See below.)

The most complicated part of gothic pronunciation is mastery of the diphthongs/digraphs, whose pronunciation is still a hot-button issue amongst linguistic scholars.  I present here the pronunciation that i've found to be most correct in my studies of the gothic language.

 Diphthong  Phœnetic Value
 
 ai  ɛ: Like e in bed, but longer.
 aí  ɛ Like e in bed.
 ái  ai Like i in lie.
 au  ɔ: Like aw in awful.
 aú  ɔ Like au in caught.
 áu  au Like ow in how.
 ei  i: Like ee in tree.  (This is the gothic equivalent of ī, which does not occur in the language.)
 iu  y:, iu
I think it is now generally agreed that this is pronounced [iu], but i rather enjoy the idea that it might have been pronounced [y:], and while there is only a little evidence to back me up, until Wulfilas tells me otherwise, as far as i'm concerned, it's [y:].

Please note, however, that the above system is completely artificial; Wulfilas did not distinguish between his diphthongs using diacritic markings, so the differences between the various forms of ai and au were extrapolated by later scholars, many of whom i disagree with.  You may find that i tend to shy away from a lot of instances of [ai/au] in favor of [
ɛ:/ɔ:] when the general concensus indicates otherwise.  I believe that, for the most part, [ai/au] occur only in syllables with primary stress (háims, ráuþs) but not in many unstressed syllables where many of my colleagues would place them (habaidēdjau not habáidēdjáu, þaim not þáim). I also tend to be more conservative on the side of Proto-Germanic than many.  However, there is another contingent (such as Voyles) who believe that there are no instances of [ai/au], and that all instances of ai and au are, respectively, [ɛ(:)] and [ɔ(:)].  I disagree with them as well. (I'd cite as my primary example words like náus with plural naweis or mawi with plural máujōs.)