Gold Edges Up In Cautious Trade As Yields Ease

Gold edged up on Wednesday after tumbling nearly 2 percent in the previous session to snap a two-day rise amid a sell-off in bond markets.

Spot gold inched up half a percent to $4,356.48 an ounce as the 30-year U.S. yield eased to around 5.27 percent from 5.3371 percent reached on Tuesday, the highest in nearly 20 years. U.S. gold futures were down 0.2 percent at $4,411.15 an ounce.

The U.S. dollar remained near multi-month lows against major currencies after the release of disappointing readings on housing starts and industrial output.