๐ฐ Hourly Briefing | 2026-06-04 20:00 CST
Gold surges past $4,500 to record highs; crude oil plunges 4% below $94; Broadcom pre-market drops 15%; Israel withdraws from southern Lebanon
๐ Market Snapshot
Spot Gold XAUUSD: 4,512.42 | +1.77%
- Intraday range: 4,424.04 โ 4,514.60
- Broke above $4,500 to set a new all-time high, driven by safe-haven demand and central bank buying.
WTI Crude: 93.938 | -4.05%
- Intraday range: 93.808 โ 97.538
- Crashed over 4%, falling below $95. Brentๅๆญฅ dropped below $94. Supply disruption premium unwinding on Lebanon ceasefire.
US Equity Futures: Nasdaq -1.43%, S&P 500 -0.6%
- Nasdaq 100 futures extended losses to -1.43%, hitting fresh intraday lows; S&P 500 futures down 0.6%; Dow futures also turned negative.
๐ฅ Key News This Hour
๐ช Gold breaks above $4,500/oz to a record high
- Up 1.77% on the day, surpassing the $4,500 milestone. Silver also rallied over 2% to $74.17. Central bank gold purchases and geopolitical safe-haven flows continue to push prices higher.
๐ WTI crude plunges over 4%, falls below $95
- Brent crude also dropped below $94. The Lebanon ceasefire has rapidly unwound supply disruption premiums, while Russia’s offer to help Vietnam build strategic petroleum reserves signals ample supply.
๐น Broadcom (AVGO) pre-market plunges 15%
- Despite delivering a beat on revenue, earnings, and guidance โ plus a long-term AI cooperation deal with Google โ the market sold off sharply. Elevated valuations are vulnerable in a high-rate environment; classic “sell the news” dynamic.
๐ฎ๐ฑ Israeli forces withdraw from southern Lebanon towns
- This follows Defense Minister Katz’s earlier statement about maintaining a “security zone.” The withdrawal marks progress on the Lebanon ceasefire implementation, though domestic political backlash against Netanyahu’s concessions persists.
๐บ๐ฆ Ukraine strikes Russian gunpowder factory in Ryazan region
- A significant escalation as Ukraine targets infrastructure deep inside Russian territory. Frontline tensions continue to intensify.
๐ท๐บ Russia offers to build strategic petroleum reserves for Vietnam
- Deputy PM Novak said Russia is prepared to help Vietnam establish strategic oil reserves and discussed LNG supply. Russia is accelerating its energy market expansion in the Asia-Pacific region.
๐จ๐ณ Shanghai Exchange tightens broker trading unit management
- Brokers must immediately launch comprehensive self-inspections of trading units, with non-compliant configurations required to be rectified within 3 months. Regulators continue to tighten oversight.
๐งญ Situation Assessment
Gold breaking $4,500 removes the last obvious technical resistance level. Near-term price action is driven by sentiment and safe-haven flows, but profit-taking pressure is building โ chasing the rally here carries significant risk.
Crude oil’s 4% single-day plunge is a strong bearish signal. With the Lebanon ceasefire unwinding supply disruption premiums, attention shifts back to weakening demand fundamentals. Further downside is possible, but support near $90 is formidable.
Broadcom’s 15% pre-market drop is the most important signal tonight. While Wall Street’s long-term AI thesis remains intact, the margin for error at high valuations in a high-rate environment is razor-thin. The “sell the news” pattern after strong earnings may repeat across more tech names.
Israel’s withdrawal clears a key hurdle for ceasefire implementation, but the domestic political pressure on Netanyahu means the durability of the truce remains uncertain.
โฐ Upcoming Key Data
- Core event this week: Fed June FOMC meeting โ market rate-cut expectations have significantly contracted
- BOJ June rate hike is virtually certain โ watch Ueda’s post-meeting statement for hawkish signals
- East African Community declares emergency measures on Ebola โ monitor Africa-related commodities and supply chain implications