A balm is typically something that is used to rub on sore skin, something that sooths and calms.

The Balm of Gilead is often dictionary defined as an oily fragrant, resinous substance, typically having medicinal value, exuding from certain plants, especially tropical plants of the family Burseraceae.

When the term Balm of Gilead is used in ministry, it is referring to the works of the Holy Spirit with His soothing, healing, and comforting power.