By Jan Harvey LONDON (Reuters) - Gold rose in Europe on Monday, recovering some of last week's one percent losses, as the impact of an earthquake in Japan added to upward pressure on the metal, driving prices towards recent record highs. Spot gold was bid at $1,427.51 (886.1 pounds) an ounce at 12:12 British time against $1,417.70 late in New York on Friday, within sight of the record $1,444.40 it hit last week. U.S. gold futures for April delivery rose $6.00 to $1,427.80. Oil prices tumbled, stock markets fell and the yen retreated from record highs against the dollar after the Bank of Japan announced a series of policy easing measures to shore up the economy in the wake of the disaster. Thousands in Japan have been killed or displaced by the earthquake on Friday and subsequent tsunami. "Japan is another risk element in a plethora of events which have been important in the minds of investors in the past quarter," said Deutsche Bank analyst Daniel Brebner. By Jan Harvey LONDON (Reuters) - Gold rose in Europe on Monday, recovering some of last week's one percent losses, as the impact of an earthquake in Japan added to upward pressure on the metal, driving prices towards recent record highs. Spot gold was bid at $1,427.51 (886.1 pounds) an ounce at 12:12 British time against $1,417.70 late in New York on Friday, within sight of the record $1,444.40 it hit last week. U.S. gold futures for April delivery rose $6.00 to $1,427.80. Oil prices tumbled, stock markets fell and the yen retreated from record highs against the dollar after the Bank of Japan announced a series of policy easing measures to shore up the economy in the wake of the disaster. Thousands in Japan have been killed or displaced by the earthquake on Friday and subsequent tsunami. "Japan is another risk element in a plethora of events which have been important in the minds of investors in the past quarter," said Deutsche Bank analyst Daniel Brebner.

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