It might be so for he knew lots of ancient mythology. If you look for the name 'Valar' in Greek & Roman mythology you may be more certain if JRRT did copy those names of these myths.
Can't help you any further.
greetings,
lathspell
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'You?' cried Frodo.
'Yes, I, Gandalf the Grey,' said the wizard solemnly. 'There are many powers in the world, for good or for evil. Some are greater than I am. Against some I have not yet been measured. But my time is coming.'
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