Gold prices trade near $4,140–$4,170 per ounce as of October 4, 2026, down roughly 3–5% over the prior week amid a stronger dollar and 10-year Treasury yields above 5%. Persistent real-rate pressure from the Fed’s September hike and market pricing for potential further tightening have outweighed safe-haven demand, even as September nonfarm payrolls printed a soft 29,000. Central-bank purchases continue to offer structural support, while elevated oil prices and inflation concerns complicate the outlook. Key near-term catalysts include the October 5 ISM manufacturing report, FOMC minutes on October 7, and PPI data on October 8, which could shift rate expectations ahead of the October 14 CPI release and late-month policy decision.