diff --git a/backend/s3/s3.go b/backend/s3/s3.go
index 0ce6f14ed..c6201492c 100644
--- a/backend/s3/s3.go
+++ b/backend/s3/s3.go
@@ -2033,11 +2033,17 @@ func (o *Object) readMetaData(ctx context.Context) (err error) {
 	if err != nil {
 		if awsErr, ok := err.(awserr.RequestFailure); ok {
 			if awsErr.StatusCode() == http.StatusNotFound {
+				// NotFound indicates bucket was OK
+				// NoSuchBucket would be returned if bucket was bad
+				if awsErr.Code() == "NotFound" {
+					o.fs.cache.MarkOK(bucket)
+				}
 				return fs.ErrorObjectNotFound
 			}
 		}
 		return err
 	}
+	o.fs.cache.MarkOK(bucket)
 	var size int64
 	// Ignore missing Content-Length assuming it is 0
 	// Some versions of ceph do this due their apache proxies