Spot Gold starts the week in positive tone and rose to $1285 so far, after renewed geopolitical tensions over North Korea sparked fresh risk aversion.
The yellow metal extends recovery from last Friday after downtrend from $1357 (08 Sep peak) was contained by daily Ichimoku cloud base at $1265.
Fresh recovery extension generated bullish signal on break above initial barriers at $1278 (falling 10SMA / Tenkan-sen) which could extend recovery through $1292 (4-hr cloud top) and expose key near-term barrier at $1297 (daily cloud top / Fibo 38.2% of $1357/$1260 downleg). Sustained break here is needed to sideline underlying bears and signal stronger recovery.
Broken 100SMA offers strong support at $1273 which is expected to keep the downside protected.
Res: 1285, 1292, 1297, 1300
Sup: 1278, 1275, 1273, 1266
