Gold falls around $1233 marks, good to buy on dips

• Pair is currently trading at $1233 marks.
   
• It made intraday high at $1248 and low at $1232.77 levels.
   
• Yesterday gold made high of $1263 marks.
   
• Today gold gave more than $15 movement in Asian hours.
   
• Intraday bias remains neutral for the moment.
   
• Later today US will release retail sales data as well as UoM consumer sentiment data, which will provide further long term direction to the parity.
   
• Initial resistance levels are seen at $1238, $1245 and $1262 thereafter.
   
• On the down side, support levels are seen at $1231, $1228 and $1222.

We prefer to take long position in XAU/USD around $1232, stop loss $1227 and target $1250.