PRECIOUS-Gold prices touch one-week high on softer U.S. dollar
* Dollar softer as most global currencies strengthen * Asian shares near 9-month low * Spot gold may rise to $1,268/oz - technicals * SPDR holdings fell 0.73 pct on Tuesday * Fed June meeting minutes due Thursday (Adds comment, details and updates prices) By Karen Rodrigues BENGALURU, July 4 (Reuters) - Gold prices rose to a one-week high on Wednesday, rebounding from a seven-month low touched in the previous session, as a softer U.S. dollar stoked demand for the yellow metal. Spot gold was up 0.6 percent at $1,260.06 an ounce as of 0712 GMT after touching $1,261.10, a one-week high. The yellow metal has gained over $20 from Tuesday's low of $1,237.32 an ounce, its weakest since Dec. 12. U.S. gold futures for August delivery were trading 0.6 percent higher at $1,261.30 an ounce. "Modest declines in the U.S. dollar index and equity market weakness is helping gold," said John Sharma, an economist at National Australia Bank. The dollar index , which measures the greenback against a basket of six major currencies, fell 0.3 percent to 94.421. A weaker greenback supports bullion as the dollar-priced commodity becomes less expensive for investors holding other currencies. Meanwhile, Asian stocks slipped on Wednesday on heightened anxieties about Sino-U.S. trade tensions ahead of the deadline for U.S. tariffs on billions of dollars worth of Chinese imports. "Since the trade wars have been doing the rounds, if anything we've seen gold come lower. But if it continues to escalate gold could go only one way and that's higher," a Sydney-based trader said. China is putting pressure on the European Union to issue a strong joint statement against President Donald Trump's trade policies at a summit later this month but is facing resistance, European officials said. Gold is often regarded as a safe haven during times of political and financial uncertainty. Spot gold may rise more to $1,268 per ounce, as it has cleared a resistance at $1,256, Reuters technicals analyst Wang Tao said. Markets are now awaiting minutes of the June U.S. Federal Reserve meeting due on Thursday and the U.S. non-farm payrolls data on Friday for cues on monetary policy. Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Shares , fell 0.73 percent to 803.42 tonnes on Tuesday. Among other precious metals, silver was 0.7 percent higher at $16.13 an ounce and palladium gained over 1 percent to $950.80 per ounce. Platinum was up 0.1 percent at $837.74 an ounce. The metal fell on Tuesday to the lowest since December 2008 at $793. U.S. markets will remain closed on Wednesday for the Independence Day holiday. (Reporting by Karen Rodrigues in Bengaluru; Editing by Christian Schmollinger and Vyas Mohan)