Gold prices were flat near a seven-week low on Wednesday, pressured by a rise in the dollar and U.S. Treasury yields on growing expectations of an earlier-than-anticipated interest rate liftoff. Spot gold was flat at $1,735.17 per ounce. On Tuesday prices fell to their lowest level since Aug. 11 to $1,726.19. U.S. gold futures were little changed at $1,735.90. The dollar index hovered near a more than 10-month high, touched on Tuesday. The benchmark U.S. 10-year Treasury yields held close to over three-month peak, increasing the opportunity cost of holding non-interest bearing bullion. St. Louis Federal Reserve President James Bullard on Tuesday cautioned high inflation may require more aggressive steps by the central bank, including two interest rate hikes in 2022. Meanwhile, Fed Chair Jerome Powell said the U.S. economy is still far from achieving maximum employment, a key component of the central bank’s requirements for raising interest rates. U.S. consumer confidence fell to a seven-month low in September as a relentless rise in COVID-19 cases deepened concerns about the economy’s near-term prospects.