The yellow comes later! The flat-topped clusters of Helichrysum hebelepis flowerhead buds are this brownish golden at their tips in early development.
The narrowly pointed involucral bracts in about six rows still form a closed cone-shape in picture, before the many disc florets push the bracts aside to gain access to sunlight. These bracts are paler lower down, straw-coloured and white in parts where the velvety hairs take over.
The visible parts of the thick, soft stalks are also whitish from the velvety indumentum (Le Roux, et al, 2005; Bond and Goldblatt, 1984; JSTOR; iNaturalist).