Gold falls below $1,200

Gold futures on the COMEX division of the New York Mercantile Exchange fell sharply on Thursday, while U.S. stocks and the dollar rose after the Federal Reserve voiced confidence in U.S. economic recovery.

The most active gold contract for December delivery lost 26.3 U. S. dollars, or 2.15 percent, to settle at 1198.6 dollars per ounce.