John Gill Commentary Psalms 135:4

"For Jehovah hath chosen Jacob unto himself, [And] Israel for his own possession." — Psalms 135:4 (ASV)

For the Lord has chosen Jacob unto himself
To be his own special people, and not another's; for his own service, and for his glory; and to be an habitation for himself, and to be for ever with him. This is not to be understood personally of Jacob, though a chosen vessel of mercy; nor of his natural posterity as such, though chosen as a nation to outward favours; for not all they, only some of them, were chosen to special grace and glory, a remnant according to the election of grace: but mystical and spiritual Jacob and Israel are meant, even the whole church and people of God, whether Jews or Gentiles;

these God has chosen, of his own free grace and good will, to all the blessings of grace and glory, and that from all eternity; which choice will remain firm and immutable, in time and for ever; and therefore is worthy of praise and thanksgiving, now, and to all eternity;

[and] Israel for his peculiar treasure ;
by whom they are accounted as such; even as the peculiar treasure of kings, as silver, gold, jewels, and precious stones; as his inheritance, his portion, and peculiar people; see (Exodus 19:5) (Malachi 3:17) .