FxWirePro: Spot Gold rises 1 pct to seven-week high of $1,280 on weaker dollar, intraday bias remains bullish

                                            

• XAU/USD is currently trading around $1274 mark.
   
• It made intraday high at $1280 and low at $1264 levels.
   
• Intraday bias remains bullish till the time pair holds immediate support at $1262 marks.
   
• A daily close above $1272 will take the parity up towards $1282, $1287 and $1295 marks again.
   
• Alternatively, reversal from key resistance $1282 will drag the parity down towards key support levels at $1272, $1267 and $1262 marks respectively.

We prefer to take long position in XAU/USD around $1274, stop loss $1262 and target $1295/$1301 marks.