Spot Gold is in recovery mode for the third straight day after broader bears showed signs of stall ahead of key supports at $1265/63 (daily Ichimoku cloud base/Fibo 61.8% of $1204/$1357 rally). Fresh recovery attempts are under way after rally on Wednesday showed strong rejection at $1281 zone (broken Fibo 50% of $1204/$1357). Sustained break here is needed to signal further recovery and expose key barriers at $1290/93 (daily Tenkan-sen/daily cloud top), which are expected to limit recovery attempts before broader bears resume. The yellow metal is looking for the outcome of US jobs report on Friday, to generate stronger signal for near-term direction.
Res: 1281, 1284, 1290, 1293
Sup: 1272, 1268, 1265, 1263
