Update: Gold Trading Higher as Traders Focus on Economic Fallout of the Iran War

02:00 PM EDT, 03/30/2026 (MT Newswires) -- (Updates prices.)

Gold rose for a second day midafternoon on Monday, regaining ground lost to the dollar and bonds amid fears of rising inflation, with treasury yields falling as the war on Iran continues.

Gold for May delivery was last seen up $34.80 to US$4,558.20 per ounce.

The price of the metal has dropped 14% since the start of the U.S.-Israeli war on Iran closed the Strait of Hormuz, sending oil prices higher and raising fears of higher inflation and rising interest rates. Still, there are signs the gold is regaining its safe-haven status as the war continues and equities falter, with U.S. stocks last week posting their largest two-day drop in a year.

"Gold recorded its first weekly gain since the conflict started with the ability to rise together with crude prices, signaling a potential shift in investor focus away from rising inflation fears to the global economic fallout from the war which increasingly carries the risk of gold-supportive period of stagflation," Saxo Bank noted.

The dollar rose early, with the ICE dollar index last seen up 0.35 points to 100.5. Treasury yields were sharply lower, with the yield on the U.S. two-year note down 8.2 basis points to 3.884%, while the 10-year note was paying 4.35%, down 8.8 points.

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