Gold gained 0.3% to $4,352.15 an ounce in early Asian trade as lower oil prices eased concerns about inflation and future Federal Reserve rate increases, ANZ Research analysts said. Investors do not appear deterred by the prospect of tighter monetary policy, with holdings in gold exchange-traded funds (funds traded on exchanges for gold exposure) rising in recent sessions. Higher interest rates typically pressure gold because it does not pay income. Pepperstone's Ahmad Assiri expects prices to remain rangebound, with the earlier bull market paused for now, though he expects it eventually to resume because of underlying drivers including central-bank demand.