Gold prices were unchanged on Wednesday, hovering around the lowest level in 7 months reached in the earlier session, as rising bond and dollar yields in the United States, supported by positive jobs data, suggested that potential for additional monetary policy tightening.

Spot gold muted at $1,823.59 per ounce meanwhile U.S. gold futures dipped 0.1% to $1,839.20 per ounce.

U.S. 10-year bond yields were at 16-year highs, which decreased demand for bullion that does not pay interest.

Tuesday saw a seventh straight session of price declines, with prices reaching their lowest points since March. The U.S. dollar gained strength as a result of data showing an unexpected rise in U.S. job vacancies in August.

Surging yields on long-term U.S. Treasury paper are seen by Federal Reserve officials as evidence that their tight money policies are effective, but for the time being, they do not appear to be alarming the economy.