Gold Higher With Ukraine Tensions Supporting - Analysts

        0540 GMT [Dow Jones] Gold is higher with the crisis in Ukraine providing underlying support, Phillip Futures says. Escalation of tensions between Russia and the West will send prices above $1,300/oz, it says. "Price patterns on the daily chart seem to suggest investors are clueless as [the] market consolidates in a tightening band with higher lows and lower highs--forming almost a symmetrical triangle," it says. Upbeat economic data and chances of stimulus in the euro zone have strengthened the prospects of the USD--which could be bearish for gold prices, it says. Spot gold is at $1,295.30/oz--up $2.60 from its previous close. (arpan.mukherjee@wsj.com; Twitter: @ArpanMukherjee)
        (END) Dow Jones Newswires

        May 19, 2014 01:40 ET (05:40 GMT)