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Gold Slid Down $12

Gold futures fell Wednesday nearly $12 for the day

Gold futures fell Wednesday to close with a loss of nearly $12 for the day as well as the month of May, marking a reversal from a three-session climb that added 2.5% to their value and lifted prices to a one-week high in the previous session.

Gold for August delivery closed at $649 an ounce on the New York Mercantile Exchange, its lowest level since May 24.

It ended down $11.50 for the day and down $11.90 for the month despite adding a total of $16.40, or 2.5%, in the past three trading sessions.