We have observed a large magnetovolume effect in a melt spun Gd-rich amorphous magnet Gd 67 Ni 33 . The magnet shows the forced volume magnetostriction of a positive value of 3:76 Â 10 À5 T À1 at 4.4 K, which is almost as same as that of a typical Invar alloy Fe 65 Ni 35 , and the spontaneous volume magnetostriction of 1:97 Â 10 À3 at 6.9 K. Both volume magnetostrictions are proportional to the square of temperature. They are explained in the framework of spin fluctuation theory for weak itinerant electron magnets. The effect supports that the Ni constituent has a magnetic moment in the amorphous phase with such a low Ni concentration unlike crystalline Gd-Ni compounds. We propose a simple relation of estimating the magnetic moment which causes the magnetovolume effect. It gives the Ni moment of 0.61 B per atom at 0 K and the magnetovolume coupling constant of 1:20 Â 10 À14 A À2 m 2 . We also discuss the arrangement of the magnetic moment in the ground state.