Gold fell for a fifth straight session on Thursday to hit its lowest level in eight weeks, pressured by a stronger U.S. dollar and rising Treasury yields amid uncertainty over the pace of the Federal Reserve's interest rate cuts.

Gold slipped for a fifth day as a surge in the dollar weighed on the metal, even as US inflation data supported the case for another Federal Reserve rate cut next month.

Gold futures were ticking up after a week of losses, rising 0.3% to $2,613.80 a troy ounce, but they remain down 2.3% on week. The decline was primarily driven by rising Treasury yields and a strengthening U.