SYDNEY, Dec 5 (Reuters) - Gold recovered lost ground in early trading on Friday, helped by the European Central Bank's bigger-than-expected interest rate cut, which pressured the U.S. dollar lower. - Spot gold fetching $768.30 a ounce at 0037 GMT versus $767.70 late on Thursday. - Gold finding some support via the weaker U.S. currency, which fell against the euro on Thursday as some investors lauded a bolder-than-expected interest rate cut by the ECB as a proactive step to stave off a deep recession in the 15-nation region. - However, gold's appeal as a hedge against inflation tarnished as broad-based commodity index Reuters/Jefferies CRB <.CRB> drops overnight to a six-year low, led by a 6 percent fall in crude oil futures. - U.S. gold futures for February delivery rebound in electronic to $770.60 an ounce after settled down $5.00 at $765.50 an ounce on the COMEX division of the New York Mercantile Exchange. - Australia dollar gold fetching A$1,193.07 an ounce versus A$1,186.95 late on Thursday. - Spot platinum selling for $794.00 an ounce against $786.50 late on Thursday. - Spot palladium fetching $169.00 an ounce versus $166.50, while spot silver gained 2 cents to $9.48 an ounce. (Reporting by James Regan; Editing by Kazunori Takada)

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