Gold falls from 12-week high amid rout in commodities prices

Source: Investing.com
On Wednesday gold slumped, leaving its 12-week high, as investors sold their gold positions due to weakening oil and copper prices. Futures for February declined $6.70 to $1,227.70 per troy ounce, compared to $1,234.40 on Tuesday.In 2014 the precious metal lost almost 2% due to strong US economic recovery forcing the Fed to rise interest rates sooner than expected, thus decreasing the relative cost of holding on to the metal, making it bullish for gold. The last week's US job report indicated a fall in wages, supporting the gold further.
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