* ECB meeting Thursday, Fed next week
* Fundamental backdrop still broadly gold supportive-analyst
* Gold set to snap four-day losing streak
* Palladium hits two-month high(Updates prices)
By Brijesh Patel
Sept 11 (Reuters) - Gold rose on Wednesday, supported bylingering concerns over the global economy and U.S.-China tradetensions, but still held close to a four-week low touched lastsession amid a broader uptick in risk-sentiment ahead of majorcentral bank meetings.
Spot gold was up 0.5% at $1,492.50 per ounce as of1246 GMT. Prices fell to their lowest since Aug. 13 at $1,483.90in the previous session.
U.S. gold futures edged 0.1% higher to $1,500.50 anounce.
"Prices are up very marginally, gold is still underpressure. We are at a month low around the $1,490 level becauseof improvement in risk appetite," Capital Economics analyst RossStrachan said.
"The fact that we are at the bottom end of the range overthe past month or so is attracting some interest, but we arealso seeing partial recovery in bond yields in recent days,which is a bearish factor for gold in the short term," Rossadded.
Bond yields climbed and world stocks rose for a sixthstraight day, ahead of monetary policy decisions by the EuropeanCentral Bank on Thursday, when the bank is widely expected tocut interest rates.
The ECB decision is likely to set the tone for upcomingrate-setting decisions by the U.S. Federal Reserve and the Bankof Japan next week.
"The overall fundamental backdrop is probably still broadlygold-supportive considering the main sources of risk aversionremain unresolved," said Ilya Spivak, senior currency strategistat DailyFx.
"Both Brexit and the U.S.-China trade war are ongoingconcerns, as is the broader slowdown in global growth. Thatprobably encourages central banks to remain dovish, weighing onyields and boosting gold."
Lower interest rates decrease the opportunity cost ofholding non-yielding bullion and weigh on the dollar, makinggold cheaper for investors holding other currencies.
Meanwhile, the dollar was up 0.2% on Wednesdayagainst a basket of major currencies.
On the trade front, a senior White House adviser on Tuesdayplayed down expectations for the next rounds of U.S.-China tradetalks, urging investors, businesses and the public to be patientabout resolving the protracted dispute.
Spot gold is still targeting $1,453, as it has breached asupport at $1,497 per ounce, according to Reuters technicalanalyst Wang Tao.
Among other precious metals, silver gained 0.6% to$18.11 per ounce, having hit a two-week low of $17.75 in theprevious session.
Palladium climbed 1.2% to $1,579.89 an ounce, afterhitting its highest since July 11 at $1,585. Platinumrose 1.1% to $940.50.(Reporting by Brijesh Patel in Bengaluru; Editing by MarkPotter, Steve Orlofsky and Uttaresh.V)