Gold (XAU/USD) trades near $4,195 per ounce amid pressure from elevated US real yields and a firm dollar following the Federal Reserve’s September 25-basis-point rate hike to the 3.75–4.00% target range. Hawkish signals from officials and market-implied odds of further tightening this year have weighed on the non-yielding asset, contributing to a roughly 5% year-to-date decline from January’s peak above $5,400. The primary near-term catalyst is the September CPI release on October 14, alongside PPI and retail sales data, which will shape expectations for the October 28 FOMC meeting and December policy path. Geopolitical developments affecting oil prices and any shifts in Treasury yields could also influence intraday price action during the holiday-shortened week.