Gold eased 0.2% to $4,346.86 a troy ounce in Asian trading, extending pressure on the non-yielding metal as investors assessed whether upcoming U.S. inflation readings will reinforce expectations for higher Federal Reserve rates. The U.S. Producer Price Index due Thursday and Consumer Price Index due Friday are expected to influence policy expectations for the Fed's September 15-16 meeting. Critical Metals' Tony Sage said stronger-than-expected inflation data could lift bond yields and curb gold's gains, while softer readings could reduce expectations for a rate increase. Markets had previously priced roughly a 60% chance of a 25-basis-point increase next week, compared with an earlier CME FedWatch reading of 58.4%. Oil prices had risen after U.S. forces destroyed five Iranian crude tankers near Kharg Island, heightening concern over energy-driven inflation and geopolitical risk. Traders were also monitoring developments in the Middle East and oil prices. Gold had been supported in August by investment demand, hedging activity and continued central-bank purchases, particularly from China.