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.