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 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 for February delivery settled down 0.7 percent at $1,099.20 an ounce.