Today’s strong recovery in gold was based on two important factors. The first is a delayed reaction to Friday’s jobs report, and the second is an increased geopolitical concern regarding Israel's long-promised ground invasion of Rafah in Gaza.

The latest U.S. jobs report showed a slowdown in hiring, with nonfarm payrolls increasing by 175,000 in April, down sharply from March's robust 315,000 new job gains.

As of 5:10 PM ET, gold futures for the most active June contract traded lower by -$1.40, settling at about $2,313. The session saw prices range from a low of $2,294.30 to a high of $2,336.10.