Gold rises after ceasefire as US jobs data awaited

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Gold prices rose on Thursday, 04 June 2026, recovering from the previous session’s losses as markets reacted to easing geopolitical tensions in the Middle East following a tentative ceasefire agreement between Israel and Lebanon. At the same time, investors shifted their attention toward upcoming U.S. labor market data for clearer signals on the Federal Reserve’s interest rate outlook.

The metal’s rebound came after a sharp decline in the prior session, which was driven by a stronger U.S. dollar and concerns over higher-for-longer interest rates. Despite the recovery, sentiment remained cautious as traders weighed fragile geopolitical conditions against persistent macroeconomic pressure.

Gold rebounds after mid-week losses

Gold managed to recover part of its recent decline as risk sentiment stabilized slightly following developments in the Middle East.

• Spot gold rose 0.9% to $4,476.07 per ounce
• U.S. gold futures climbed 0.8% to $4,502.84 per ounce
• Prices had previously fallen more than 1% in the prior session

The rebound was supported by easing concerns over immediate energy-driven inflation risks, although broader uncertainty remained intact.

Geopolitical tensions keep markets cautious

Markets continued to monitor fragile developments in the Middle East despite the announcement of a ceasefire framework between Israel and Lebanon. The agreement remains conditional on a reduction in hostilities, leaving investors wary about its durability.

At the same time, reports of renewed military activity across parts of the region, including strikes in the Gulf, kept overall risk sentiment subdued and supported demand for safe-haven assets such as gold.

US data outlook shapes market direction

Attention has now shifted toward key U.S. economic indicators, particularly the upcoming nonfarm payrolls report, which is expected to guide expectations around Federal Reserve policy.

Recent data added to the cautious tone in markets, with stronger-than-expected job growth and elevated services-sector inflation reinforcing the view that interest rates may remain higher for longer. This typically weighs on non-yielding assets such as gold, limiting further upside momentum.

Other metals show mixed performance

Precious and industrial metals recorded mixed movements during the session amid shifting risk appetite and macroeconomic uncertainty.

• Silver rose 0.9% to $73.41 per ounce
• Platinum gained 1.3% to $1,884.60 per ounce
• Copper and other base metals edged lower on weaker sentiment

Broader commodity markets also reflected caution, as investors balanced easing geopolitical pressure against concerns over global growth and monetary policy direction.