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Gold prices rise along with tensions in Ukraine
Analyst: Sell into any rally in prices
SAN FRANCISCO (MarketWatch) -- Gold prices on Wednesday shrugged off its recent weakness to move back above $1,300 as Ukraine fears cast a shadow over the equity markets.

Gold for December delivery (CNS:GCZ4) rose $22.90, or 1.8%, to $1,308.20 an ounce, the first time it settled above $1,300 since July 29. September silver (CNS:SIU4) gained 19 cents to $20.02 an ounce.

Russia is believed to be massing troops on the border with Ukraine while the Polish foreign minister warned of a potential Russian invasion, according to reports.

A day earlier, a firmer dollar and some strong economic data led to a second-straight losing session for gold prices even as investors began to steer away from stocks.

From a technical perspective, Walter de Wet of Standard Bank said he’d still recommend selling into any rally in gold prices.

“The 200-day moving average is at $1,284. If gold moves below this, we’d expect further long liquidation as well as new shorts to enter the market,” he said. “We maintain that, from a risk/return perspective, there’s no point in entering new shorts until gold sticks below its 200-day MA.” http://www.marketwatch.com/story/gold-prices-rise-along-with-tensions-in-ukraine-2014-08-06