molder v.

also mould, mid-14c., "to mix, blend (something) by kneading;" late 14c. "to knead (bread), form into a particular shape," from mold (n.1). Figurative sense (of character, etc.) is from c. 1600. Related: Molded; molding.

"fine, soft, loose earth," Old English molde "earth, sand, dust, soil; land, country, world," from Proto-Germanic *mulda (source also of Old Frisian molde "earth, soil," Old Norse mold "earth," Middle Dutch moude, Dutch moude, Old High German molta "dust, earth," Gothic mulda "dust"), from PIE root *mele- "to crush, grind." Specifically, since late (Christian) Old English, "the earth of the grave." Also, from c. 1300 as "earth as the substance out of which God made man; the 'dust' to which human flesh returns."

The proper spelling is mold, like gold (which is exactly parallel phonetically); but mould has long been in use, and is still commonly preferred in Great Britain. [Century Dictionary, 1897]