* ECB hints at prospect of further stimulus for euro zone
* Gold struggles to maintain push above $1,100/oz
* GRAPHIC-Commodities in 2016: http://link.reuters.com/reb25t
(Adds comment, byline, NEW YORK dateline; updates prices)
By Marcy Nicholson and Jan Harvey
NEW YORK/LONDON, Jan 21 (Reuters) - Gold fell on Thursday
after posting its biggest one-day gain in two weeks the day
before, as hints of further stimulus from the European Central
Bank hurt the euro and a rebound in global stocks curbed risk
aversion.
Turmoil in financial markets and concerns over China and
other emerging markets will prompt a March review of the ECB's
monetary policy, President Mario Draghi said after a meeting,
holding out the prospect of further loosening.
Spot gold XAU= was down 0.1 percent at $1,099.70 an ounce
at 3:13 p.m. EST (2013 GMT), after falling 0.8 percent to
$1,092.15. It pared losses as the U.S. dollar turned lower.
U.S. gold futures GCv1 for February delivery settled down
0.7 percent at $1,099.20 an ounce.
"After Wednesday's $25 per ounce uptick in gold prices
fueled by the global equity market selloff, today gold was
dragged lower by profit taking, recovering equity markets, and a
stronger U.S. dollar," said Giovanni Staunovo, commodities
analyst at UBS Wealth Management in Zurich.
Oil prices and global equity markets rebounded, following a
turbulent few days that wiped trillions of dollars off asset
values, though it was unclear whether the vigorous selling
action had come to an end. MKTS/GLOB
"Draghi's dovish remarks seem to have improved risk
sentiment somewhat - the yen is lower and gold also a touch
lower," ABN Amro analyst Georgette Boele said.
"The market was cautious ahead of the meeting and he sounds
dovish. That is negative for the euro."
The dollar rose to its strongest against the euro in two
weeks on Draghi's comments. USD/
"You're not seeing so much safe haven bidding, although that
is probably supporting the market," Societe Generale (PA:SOGN) analyst
Robin Bhar said.
"As the price inches higher, you're just losing steam from
the physical markets. The physical buying is maybe not there to
mop up any excesses, and for the moment gold appears to be
struggling."
Physical gold demand in Asia slowed this week as prices
rose, curbing seasonal buying in China ahead of a big holiday
and forcing sellers in India to offer a discount. GOL/AS
Among other precious metals, platinum XPT= was up 0.05
percent at $818.40 an ounce, after falling to a 7-year low at
$806.31.
Palladium XPD= was up 0.9 percent at $497.30 an ounce and
silver XAG= was down 0.4 percent at $14.11.