Gold edges higher; focus on Yellen, U.S. political drama @WWW.MCXRESEARCHGURU.COM 8859222859

Gold prices edged higher in European trade on Wednesday, extending gains into a third-straight session, as investors awaited comments from Federal Reserve Chair Janet Yellen for fresh cues on policy direction.

Comex gold futures were at $1,217.27 a troy ounce by 4:00AM ET (0800GMT), up $2.60, or around 0.2%. Prices settled with a modest gain for a second-straight session on Tuesday.

Yellen is scheduled to testify on the economy before the Senate Banking Committee at 10:00AM ET (1400GMT) Wednesday. Text of the testimony will be released 90 minutes before she starts speaking.

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