**Rising U.S. Treasury yields and a hawkish Federal Reserve stance dominated gold (XAU/USD) price action during the week of September 28, 2026.** Spot gold opened near $4,260 and briefly touched a weekly high around $4,261 before selling off sharply to an intraday low near $4,111 amid surging 10-year real yields that approached 2.87% and a firmer U.S. dollar. The September FOMC decision to raise the federal funds target range to 3.75–4.00%, combined with updated dot-plot signals of additional tightening, elevated the opportunity cost of holding non-yielding bullion and reinforced expectations for higher-for-longer rates. Persistent central-bank buying and geopolitical tensions provided some structural support, yet near-term sentiment remained pressured by the bond-market repricing. Traders monitored upcoming data releases and any signs of yield stabilization for potential relief, with the week’s close settling near $4,182 after the sharp correction. This environment underscored how monetary-policy expectations and real-yield dynamics can override traditional safe-haven flows in the short term.