BENGALURU, July 26 (Reuters) - Gold prices inched up early on Thursday as the dollar eased after U.S. President Donald Trump and European Commission President Jean-Claude Juncker agreed to work towards eliminating trade barriers. FUNDAMENTALS * Spot gold was up 0.2 percent at $1,233.26 an ounce at 0102 GMT. * U.S. gold futures for August delivery were 0.2-percent higher at $1,233.60 an ounce. * The dollar index , which measures the greenback against a basket of six major currencies, fell 0.2 percent to 94.164. It marked a two-week low earlier in the session. * In what the European Union's chief executive, Jean-Claude Juncker called a "major concession", U.S. President Donald Trump agreed on Wednesday to refrain from imposing car tariffs while the two sides launch negotiations to cut other trade barriers, easing the threat of a transatlantic trade war. * The European Central Bank is all but certain to keep policy on hold on Thursday, arguing that the risks from an amplifying global trade conflict don't warrant a deviation from its plan to gently exit its easy-money policy of the last few years. * The Bank of Japan will consider at next week's rate review changing the composition of exchange-traded funds (ETF) it buys as part of is massive stimulus programme, the Nikkei newspaper reported on Thursday. * Barring an economic or Brexit-related shock in the next few days - and given the way 2018 is going, few would bet against surprises of any kind with confidence - the Bank of England will almost certainly raise interest rates on Aug. 2. * Global economic activity remains solid but has already passed its peak, according to economists in Reuters polls who expect protectionist policies on trade, which show no signs of abating, to tap the brakes significantly. * Canadian and Mexican officials insisted on Wednesday that the North American Free Trade Agreement remain a trilateral pact and reiterated their opposition to U.S. calls for a so-called "sunset clause" that could end the deal after five years. * Holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund fell 0.29 percent to 800.20 tonnes on Wednesday. * China's gold output dropped by 7.9 percent in the first half of this year to 190.28 tonnes due to an environmental crackdown on illegal mining, Xinhua News Agency reported on Wednesday, citing figures from the China Gold Association. * Canada's Barrick Gold Corp reported a weaker-than-expected second-quarter adjusted profit on Wednesday, hurt primarily by lower gold sales, along with higher maintenance and fuel costs.