PRECIOUS-Gold spikes more than 1 pct, ETFs at fresh record

SYDNEY, April 30 (Reuters) - Gold spiked just over 1 percent on Friday after trading mostly flat overnight on signs investors were ploughing more capital into bullion markets to hedge against economic turmoil in Europe.

Fresh interest in gold was particularly heavy among Japanese commodities investors following a holiday on Thursday, bullion dealers said.

FUNDAMENTALS

* The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust (GLD), said holdings hit a new record of 1,159.002 tonnes as of April 29, up 6.089 tonnes from the previous business day.

* Spot gold XAU= was at $1,173 an ounce by 0124 GMT versus $1,168.45 an ounce at New York's notional close. Spot gold briefly rose 1.2 percent higher to $1,183 an ounce early on Friday, Reuters data showed.

* U.S. gold futures for June delivery GCM0 on the COMEX division of the NYMEX were up $4.60 an ounce at $1,173.40.

* Platinum XPT= gained $7 to $1,737 an ounce.

MARKET NEWS

* Japan's Nikkei average rose 1.4 percent.[.T]

* U.S. stocks chalked up their best day in nearly two months on Thursday as investors welcomed a string of robust earnings reports, while Greece appeared close to a bailout deal, easing fears about a wider sovereign debt crisis. News that Greece was readying severe austerity measures to secure a multibillion-euro aid package spurred widespread relief, and the more beaten-down sectors, like banks, recouped losses for a second day running. The Dow Jones industrial average .DJI gained 122.05 points, or 1.10 percent, to 11,167.32.[.N]

* Ratings agency Moody's said a multi-notch credit downgrade for Greece is likely. S&P cut its debt ratings of Greece and Portugal on Tuesday, sparking a sharp sell-off in equities. * U.S. crude futures extended gains on Friday to rise above $85 as the euro continued to gain against the dollar,

* The euro extended gains on Friday, as hopes of a quick Greek rescue package spurred investors to cover short positions. [FRX/]

* The Reuters-Jefferies CRB index .CRB, a commodities bellwether that tracks prices across 19 futures markets, rose 0.3 percent on Thursday when risk appetite was whetted by the euro's jump against the greenback, leading to a broad advance across commodities markets. [COM/WRAP]

DATA/EVENTS

* The following data is expected on Friday (GMT):

* U.S. Q1 Core PCE Prices 1230

* U.S. ECRI Weekly Economic Index 1430

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PRECIOUS METALS PRICES Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 1172.20 6.10 +0.52 6.98 Spot Silver 18.53 0.10 +0.54 10.10 Spot Platinum 1736.00 7.00 +0.40 18.34 Spot Palladium 554.50 5.00 +0.91 36.74 TOCOM Gold 3556.00 53.00 +1.51 9.11 41307 TOCOM Platinum 5256.00 77.00 +1.49 19.86 16884 TOCOM Silver 56.60 1.60 +2.91 9.48 470 TOCOM Palladium 1671.00 22.00 +1.33 43.43 1168 Euro/Dollar 1.3232 Dollar/Yen 94.06 TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices in $ per ounce. (Reporting by James Regan; Editing by Clarence Fernandez)