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PRECIOUS-Gold steadies as investors await ECB meeting, U.S. jobs data

* Focus on ECB policy review, U.S. nonfarm payrolls

* Gold waits for further data cues, China opening

* Coming up: U.S. Weekly jobless claims at 1330 GMT

(Updates throughout, changes dateline from SINGAPORE)

LONDON, Feb 6 (Reuters) - Gold steadied on Thursday, reflecting little change in the dollar and equity markets as investors awaited a European Central Bank (ECB) meeting and a series of U.S. jobs data for cues over global economic growth.

A mixed bag of U.S. data left investors on edge this week, adding to pressure stemming from the emerging markets turmoil, which at times has underpinned safe-haven assets such as gold and the yen.

Spot gold was up 0.3 percent at $1,261.10 an ounce by 1130 GMT. Gold rose around $20 an ounce to a near-two-week high of $1,273.26 on Wednesday after a disappointing U.S. jobs report, but pared most of the gains on other strong numbers.

U.S. gold futures for February delivery rose 0.4 percent to $1,261.30 an ounce.

Data on Wednesday showed that U.S. private employers added 175,000 jobs in January, the smallest gain since August, according to payrolls processor ADP, while growth in the service sector picked up last month.

Investors are now eyeing the Friday release of U.S. nonfarm payrolls data, a key gauge of the labour market, as any setback in economic growth could prompt the Federal Reserve to slow the pace of its stimulus tapering.

In the meantime, they will watch the ECB's rate decision at 1245 GMT, expecting chief Mario Draghi to drop hints of his readiness to ease.

"These macro events are relevant for the gold market for the impact they can have on the dollar and stock markets," Commerzbank analyst Carsten Fritsch said.

He said the main reason for the relative strength in gold prices this year was weakness on global stock markets and low interest rates. While this had not been enough to draw big investors back into the market it had brought a slowdown in exchange-traded funds outflows.

Bullion has gained around 4 percent so far this year, after a 28 percent drop in 2013, as slowing growth in China and capital outflows from emerging nations hit share markets.

However, analysts see any rally in the gold price as a selling opportunity, with current economic concerns not seen enough to derail the global economic recovery path.

In the physical markets, traders were waiting for the return of the Chinese market on Friday, after a week-long holiday for the Lunar New Year.

Platinum was trading up 0.3 percent at $1,377.89 an ounce as government-brokered talks between mine union AMCU and the world's three biggest platinum producers to end a two week wage strike in South Africa have adjourned to allow for individual consultations.

Silver was up 1.1 percent to $20.80 after a 2 percent gain overnight - its biggest one-day jump in nearly four weeks. Palladium was up 0.9 percent to $712.50 an ounce.

(Additional reporting by A. Ananthalakshmi in Singapore; editing by Keiron Henderson)