* Spot gold still targets $1,453/oz - technicals
* Dollar steady as traders await Thursday's ECB meeting(Updates prices)
By Eileen Soreng
Sept 11 (Reuters) - Gold prices edged up on Wednesday,snapping a four-day losing streak on technical buying, amidexpectations that the European Central Bank will dole outstimulus and cut interest rates.
Spot gold was up 0.3% at $1,490.27 per ounce, as of0732 GMT. In the previous session, prices fell to their lowestsince Aug. 13 at $1,483.90.
U.S. gold futures were up 0.2% at $1,502.2 an ounce.
"The ECB is expected to reduce further the interest rateinto negative territory... The meeting could serve as apotential catalyst (for gold) and investors are already buyinginto the rate cut expectations," said Margaret Yang Yan, amarket analyst at CMC Markets.
Given that gold has had such a deep correction from itsrecent peak, investors are buying on dips, Yan added.
Bullion prices have shed more than 4%, or over $60, sincescaling an over six-year peak of $1,557 on Sept. 4.
Risk sentiment got a lift ahead of monetary policy decisionsby the ECB on Thursday and the U.S. Federal Reserve next week,with investors hoping for further easing amid a slowdown inglobal growth.
Market participants might be reluctant to commit to bigrisk-on bets, which could nudge gold upwards amidpre-positioning ahead of Thursday's event, said Ilya Spivak,senior currency strategist, DailyFx.
ECB policymakers are leaning toward a package that includesa rate cut, a pledge to keep rates low for longer andcompensation for banks over the side-effects of negative rates,five sources familiar with the discussion said last week.
Fundamental backdrop is still broadly gold-supportiveconsidering the main sources of risk aversion remain unresolved,Spivak added.
"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."
Gold prices gained about 18%, or over $200, since hittingyear's low of $1,265.85 on May 2.
On the trade front, a senior White House adviser tamped downexpectations on Tuesday for the next rounds of U.S.-China tradetalks, urging investors, businesses and the public to be patientabout resolving the trade dispute.
Spot gold still targets $1,453, as it has cleared a supportat $1,497 per ounce, according to Reuters technical analyst WangTao.
Meanwhile, the dollar index was steady, while Asianstock markets held firm and bond yields rose on Wednesday.
Among other precious metals, silver rose 0.5% to$18.09 per ounce, having hit a two-week low of $17.75 in theprevious session.
Palladium was trading flat at $1,560.96 per ounce,while platinum gained 0.7% to $936.90.(Reporting by Eileen Soreng in Bengaluru, Editing by SherryJacob-Phillips and Rashmi Aich)