Gold inched lower on Thursday, pressured by a stronger U.S. dollar and rising Treasury yields, while investors awaited a key inflation report to assess the Federal Reserve's policy path.

Spot gold was down 0.1% at $2,912.94 an ounce, as of 0232 GMT. U.S. gold futures fell 0.1% to $2,927.20.

The dollar index rose 0.2% against its rivals to move further from recent 11-week lows as vague pledges from President Donald Trump to impose tariffs on Europe and further delays to levies planned for Canada and Mexico stoked uncertainty.

Benchmark 10-year U.S. Treasury yields also rebounded from an earlier drop, making non-yielding gold less appealing.

"A light pickup in the dollar and U.S. Treasury yields seen to be pressuring gold a bit in this session," said Ilya Spivak, an investment analysis streaming site Tastylive, adding that the overall uptrend for gold is broadly intact.

Several Fed officials are due to speak later in the day for more insights on monetary-policy easing this year.

Markets will next look to the Personal Consumption Expenditures (PCE) index, the Fed's preferred inflation measure, due on Friday, for further confirmation of the central bank's interest rate path.

The consensus forecast was for a PCE monthly index of 0.3%, unchanged from December, according to a Reuters poll, while the core number is seen rising 0.3%, up from 0.2% in December.

"The markets are sensitive to growth concerns at the moment after dismal U.S. PMI data last week and any stronger-than-expected PCE outcomes that point away from Fed rate cuts in the near term might hurt gold," Spivak added.

Bullion is seen as a safeguard against political risks and inflation, but higher interest rates dampen the non-yielding asset's appeal.

Spot silver was steady at $31.84 an ounce, platinum fell 0.1% to $964.95 and palladium eased 0.1% to $926.03. (Reporting by Anushree Mukherjee in Bengaluru; Editing by Alan Barona and Rashmi Aich)