Gold prices up 1.2% to $1273.60 per ounce

Gold prices are heading higher, up 1.2% to $1,273.60 per ounce, after closing at their highest level in more than a year on Thursday. Where's the next stop for the yellow metal? Bulls may aim for the January 2015 high of $1,307. Above that level, there is not much obvious resistance until the 200-week moving average, currently at $1,339. Trouble is also a possibility if today's employment report is a strong one, but for now the doves at the Fed have the upper hand.