Gold prices edged further away from a 4-month low on Wednesday, as investors awaited testimony from U.S. Federal Reserve Chair Janet Yellen and central bank officials expressed caution about further interest rate hikes.

FUNDAMENTALS

* Spot gold rose 0.1 percent to $1,218.60 per ounce at 0046 GMT, adding to a 0.3 percent gain in the previous session, its biggest rise since June 23.

* U.S. gold futures for August delivery rose 0.3 percent to $1,218.30 per ounce.

* Investors are betting the European Central Bank could deliver its first interest rate rise since 2011 by July next year.

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