02:00 PM EDT, 03/24/2026 (MT Newswires) -- (Updates prices.)

Gold traded lower for a fifth-straight session midafternoon Tuesday as the metal sheds its safe-haven status with the war on Iran threatening higher inflation and rising interest rates.

Gold for April delivery was last seen down US$9.50 to US$4,430.00 per ounce.

The price of gold is now down 16% since the Feb.28 start to the war. Rising energy prices as Iran blocks the Strait of Hormuz, the chokepoint for 20% of global oil supply are threatening a renewed burst of inflation likely to be met with higher interest rates, a bearish signal for both gold and silver.

"Both metals are, for now, trading more like risk assets. The Middle East conflict continues to drive a broad macro shock, forcing a repricing across global markets. A prolonged conflict is likely to weigh on sentiment by fueling inflation concerns, lifting the dollar and bond yields, and reducing expectations for rate cuts," Saxo Bank wrote.

The dollar rose, with the ICE dollar index last seen up 0.58 points to 99.53. Treasury yields also rose, with the U.S. two-year note last seen paying 3.953%, up basis points, while the yield on the 10-year note was up 6.9 points to 4.419%.