THE recovering spot gold price is pressing up against resistance at $300 a troy ounce in early European business on Thursday. Analysts said that this level, briefly exceeded in Asian trading, looked set to prove tough but had to be clearly overcome before gold could aim for the next upside targets at $305,00, $315,00 and $325,00. Gold rose on Wednesday, after days of declines, once the expiry in over-the-counter options was out of the way. A trader in Singapore said the rise above $300 in the Australian market is reputedly due to US commission house buying, which was followed by professional selling.