Gold futures end near 6-year low after Yellen comments
Gold futures settled at their lowest level in almost 6 years on Wednesday. Comments from Federal Reserve Chairwoman Janet Yellen and data showing a rise in U.S. private-sector employment strengthened the likelihood that the U.S. central bank will boost interest rates when it meets this month. February gold settled at $1,053.80 an ounce on Comex, the lowest settlement since Feb. 5, 2010. In electronic trading following the release of the Fed Beige Book, prices edged up from the settlement.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.