Nothing could separate the sides throughout the opening 13 minutes until Andy Goode added the game's first score with a drop goal to give the hosts a three-point lead.
Matt Mullen touched down for Wasps on the half-hour mark before the boot of Goode opened up a 10-0 advantage with the conversion.
The Londoners continued their dominance early in the second as Carlo Festuccia crossed over for his team's second of the game to put Young's charges in cruise control.
However, Gloucester refused to bow out with a whimper and Nigel Davies's troops made inroads towards a spirited comeback.
Nevertheless, William Helu added a third try on 76 minutes after Goode had earlier struck back-to-back penalties, but Martyn Thomas bagged a consolation in the dying moments to restore pride to the scoreline.