4 Enter his gates with thanksgiving,
and his courts with praise!
Give thanks to him; bless his name!
5 For the LORD is good;
his steadfast love endures forever,
and his faithfulness to all generations.
The Holy Bible: English Standard Version. (2016). (Ps 100:4–5). Wheaton: Standard Bible Society.
5 God’s people adumbrate God’s name on account of his goodness to them. He is “good” (106:1; 107:1; 136:1), full of “love” (ḥesed) and “faithfulness” (ʾemûnâ; for these covenantal perfections, see Ex 34:6–7). He remains faithful to his people because he has covenanted to do so (see Reflections, p. 271, The Perfections of Yahweh).
100:5 / The closing verse provides the formal rationale for the above commands (though v. 3 has already provided some reasons). Their basis lies on Yahweh’s beneficent attributes: his good ness, love, and faithfulness. This psalm contains two statements, “the Lord is God” and the Lord is “good,” that encapsulate two fundamentals of theology: God is all-powerful and God is good.
Thanking God for His Faithful Love (100:4–5)
100:4–5. Drawing out the implication of Israel as being the “sheep” of God’s “pasture,” the psalmist exhorted his people to offer God thanksgiving and praise because of His lovingkindness and faithfulness toward them (see comments on 5:7; 88:11). The conclusion is God’s faithfulness to Israel forever: The Lord is good; His lovingkindness is everlasting and His faithfulness to all generations (v. 5; cf. 36:5–7; Jr. 31:34–37).
100:5 the Lord is good: The shout of the goodness of God in this verse is buttressed by an appeal to His mercy and His truth. The Hebrew word for truth comes from the root meaning “to be established” or “to be confirmed.” From this root also comes the word amen, meaning “surely” or “truly.” God’s goodness is based on His loyal love and His truth.
Enter His courts with thanksgiving (100:4–5)
100:4–5. This second part of the psalm is a call to the saints to enter Jerusalem (God’s gates) and to go to the temple (His courts) to offer their thanksgiving sacrifices for His blessings to them.
The people should praise the Lord for His goodness, love, and faithfulness. These benefits endure from generation to generation. So every generation that experiences God’s goodness, love, and faithfulness can join in praising Him with “The Old One-Hundredth.”
100:5 the Lord is good. God is the source and perfect example of goodness. His lovingkindness. See note on Ps 85:7. His faithfulness. God’s faithfulness in the sense of keeping His promises.
100:5 good. Full of generosity (cf. 23:6; 25:7–8). steadfast love … faithfulness. These terms evoke Ex. 34:6; the foundation of joy for God’s people is his enduring character of gracious love, of keeping his promises. to all generations. Exodus 34:7 says that God keeps his steadfast love “for thousands,” which, in view of Deut. 7:9, is probably “generations in their thousands.” The worshipers delight to think of the people of God being preserved forever, and of the prospect of their own descendants being members of that people (cf. Gen. 17:7; Ps. 103:17–18); this, too, is the measure of God’s enduring love.
100:5 For The psalmist declares that the earth must praise and thank God because He faithfully cares for Israel.
his loyal love God’s chesed is one of His essential characteristics. See note on 25:10.
100:5 his steadfast love. God’s lovingkindness to people who are in covenant with Him.
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 Sproul, R. C. (Ed.). (2005). The Reformation Study Bible: English Standard Version (p. 824). Orlando, FL; Lake Mary, FL: Ligonier Ministries.