Gold Closes at Lowest in Three Years

CHICAGO, June 26 -- Gold futures on the COMEX division of the New York Mercantile Exchange futures closed at its lowest level in nearly three years on Wednesday, amid expectations that the U.S. Federal Reserve would move to slow the pace of monetary stimulus later this year.

 

The most active gold contract for August delivery fell 45.3 dollars, or 3.55 percent, to settle at 1,229.8 dollars per ounce.