09:29 AM EDT, 03/27/2026 (MT Newswires) -- Gold traded higher early Thursday, rebounding from a three-month low a day earlier even as the dollar and yields continue to rise as traders turn away from the metal as a safe haven amid the war on Iran.

Gold for April delivery was last seen up $51.00 to US$4,460.00 per ounce after falling to the lowest since Jan. 5 a day earlier.

The price of the metal has dropped 16% in the past month as traders turn away from the metal as a store of value as rising oil prices amid the war on Iran are seen stoking inflation and pushing up interest rates, in turn pushing up the dollar and treasury yields. Silver prices have also suffered, dropping 27% since the war began.

"Gold and silver continue to trade in line with broader risk assets, currently driven by movements in energy prices due to their impact on growth, inflation, and rate expectations. Investors appear reluctant to re-engage with the longer-term hard asset narrative until this correlation begins to break," Saxo Bank noted.

The dollar rose early, with the ICE dollar index last seen up 0.17 points to 100.07. Treasury yields were mixed, with the U.S. two-year note last seen paying 3.996%, down 0.4 basis points, while the yield on the 10-year note was up 5.1 points to 4.474%, the highest since July 15.