Gold rose 0.2% to $4,269 an ounce in early Asian trade after slipping following the Federal Reserve’s first interest-rate increase in more than three years. Higher rates generally pressure nonyielding assets such as gold, although the move was largely priced into markets, limiting the immediate reaction. Oxford Economics expects the Fed to tighten again in December before pausing for an extended period. Michael Pearce, chief U.S. economist, said inflation will rise over the next month but argued that the energy price shock, higher rates and potential effects from artificial intelligence will pressure the labor market and bring inflation back to target sooner than Fed officials expect.