Gold edged up on Wednesday as Japan's aggressive monetary easing policy boosted bullion's appeal as a hedge against inflation, although gains may be capped as stronger equities lure buyers seeking better returns. Gold had gained $2.14 an ounce to $1,586.84 by 0610 GMT, after hitting $1,590 on Tuesday, its highest since April 2. It has slipped around 5 percent so far this year, after posting annual gains in the past 12 years.
US gold for June delivery was steady at $1,587.00 an ounce.