CORRECTED - CORRECTED-PRECIOUS-Gold rises towards $960, firmer oil helps

(Replaces table 'Precious metals prices at 0629 GMT' with
corrected figures)

* Recovery hopes draw funds across commodities including gold

* SPDR Gold holdings XAUEXT-NYS-TT unchanged since Tuesday

By Chikako Mogi

TOKYO, Aug 14 (Reuters) - Gold prices rose closer to $960 an
ounce on Friday as oil extended gains and strengthened bullion's
appeal as a hedge against inflation.

While U.S. government data on retail sales and weekly jobs
claims were disappointing, better-than-expected earnings by
Wal-Mart Stores Inc (WMT.N) reinforced hopes for an economic
recovery and boosted U.S. stocks on Thursday.

Expectations that the global economy may have exited its
worst stage were helping improve sentiment across assets,
including stocks and oil prices. Gold tends to get support from a
rise in oil prices due to concerns about oil-led inflation.

Oil prices extended gains and rose 0.5 percent to near $71 a
barrel CLc1 on Friday, while Japanese stocks were higher with
the Nikkei average .N225 rising 0.9 percent. [O/R] [.T]

"Gold is getting support from the rise in oil prices but
activity is subdued and trading volume is thin," said Wakako
Harada, a senior trader at Mitsubishi Corp in Tokyo.

"The market's focus right now is on where real demand will
emerge on expectations for an economic recovery. Firmness in
stocks and commodities reflect that funds are flowing in on
recovery expectations," she said.

Spot gold XAU= had risen 0.2 percent to $955.70 an ounce as
of 0538 GMT, compared with New York's notional close of $953.50
an ounce. Gold prices rose to a two-month high above $970 last
week. At current price levels, spot gold is set for a 0.2 percent
weekly gain.

U.S. gold futures for December delivery GCZ9 also rose 0.2
percent to $958.10 an ounce, compared with $956.50 on the COMEX
division of the New York Mercantile Exchange. Gold futures hit a
one-week high of $963.10 on Thursday when signs of a global
economic recovery bolstered the metal's status as a hedge against
inflation.

Traders said that while the market remained top-heavy above
the recent highs, prices at which physical demand enters the
market are up slightly from the previous level around $900.

The euro slipped 0.1 percent to $1.4264 EUR=, giving back
some of the gains it made on Thursday when data showed that
Germany and France unexpectedly returned to growth in the second
quarter. [USD/]

The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust (GLD), said holdings stood at 1,065.49 tonnes on
Thursday, unchanged since Tuesday. [GOL/SPDR]
Precious metals prices at 0629 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 956.45 2.95 +0.31 8.67
Spot Silver 15.04 0.04 +0.27 32.86
Spot Platinum 1268.00 3.00 +0.24 36.05
Spot Palladium 275.00 1.00 +0.36 49.05
TOCOM Gold 2943.00 -12.00 -0.41 14.38 30889
TOCOM Platinum 3904.00 17.00 +0.44 47.21 13524
TOCOM Silver 462.00 10.10 +2.24 44.69 277
TOCOM Palladium 853.00 8.00 +0.95 55.09 452
Euro/Dollar 1.4266
Dollar/Yen 95.32

TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Additional reporting by Risa Maeda; Editing by Edwina Gibbs)