Gold retreats after gaining 1 pct in the last two sessions * Traders await ECB on Thursday, U.S. payrolls on Friday * GRAPHIC-2015 asset returns: http://link.reuters.com/dub25t (Updates throughout, changes dateline, pvs SINGAPORE) By Jan Harvey LONDON, Dec 2 (Reuters) - Gold retreated on Wednesday, snapping two days of gains, as the dollar rose against the euro ahead of expected further stimulus from the European Central Bank on Thursday, and U.S. payrolls data later in the week. Prices hit near six-year lows last week, weighed down by expectations that the Federal Reserve will hike interest rates for the first time in nearly a decade this month, even as the ECB eases policy further. The Fed has tied the timing of its rate hiking cycle to the strength of U.S. data, making this week's payrolls report particularly important.
