Global Market Roundup: 05 June 2026

Gold prices rebounded on Thursday after signs of easing tensions in the Middle East improved market sentiment. Israel and Lebanon agreed to a conditional ceasefire, raising hopes that tensions in the region could gradually ease. The development was viewed as a positive step toward broader diplomatic efforts between the United States and Iran.

While Washington and Tehran have reportedly made progress toward a framework that would extend the ceasefire and reopen the Strait of Hormuz, a final agreement remains elusive, with Iranian officials indicating that key differences still need to be resolved.

The recovery in bullion, however, proved short-lived. During Asian trading on Friday, gold and silver edged lower and remained on track for a weekly decline as investors turned their focus back to monetary policy expectations. A series of stronger-than-expected U.S. labor market reports reinforced the view that the Federal Reserve may keep interest rates elevated for longer, supporting the U.S. dollar and Treasury yields while limiting upside in gold and silver.

Market attention now shifts to the closely watched U.S. Nonfarm Payrolls report later today. The data is expected to play a crucial role in shaping expectations for the Fed’s policy outlook. A stronger-than-expected reading could further strengthen the dollar and weigh on precious metals, while softer employment data may revive hopes of future rate cuts and provide support to bullion prices.

Crude oil prices steadied on Friday after plunging more than 3% in the previous session, with WTI crude holding above $93 per barrel as traders assessed the latest developments in Middle East diplomacy. The sharp decline on Thursday was driven by growing optimism that the United States and Iran could still reach a negotiated settlement, easing concerns over prolonged disruptions to global oil supplies.

Market sentiment was further supported by the ceasefire agreement between Israel and Lebanon, which raised hopes of broader regional de-escalation and improved prospects for advancing U.S.–Iran negotiations. While uncertainty surrounding a final agreement remains, the easing of geopolitical tensions prompted investors to scale back some of the risk premium that had recently supported oil prices.

Copper markets remain focused on potential U.S. tariffs on refined copper imports and their impact on global trade flows.

Market Performance Snapshot