Los Angeles Kings defender Jack Johnson broke the deadlock, 5:41 into the second period beating Sweden goalkeeper Stefan Liv with a powerful slap shot from the blue line on a powerplay.
The Swedes pulled level also on a powerplay at 33:24, when Dallas Stars forward Loui Eriksson fired in from just outside the crease on Tony Mårtensson’s pass from behind the goal line.
Mårtensson put Sweden 2-1 up with four minutes remaining before the second intermission redirecting Mattias Weinhandl’s cross-ice pass into the net when two Americans were in the sin bin.
San Jose Sharks forward Joe Pavelski levelled at 2-2 two minutes into the third period but Sweden blueliner Carl Gunnarsson scored Sweden’s third, slapping in through the traffic at 49:00.
America substituted goalie Robert Esche but two minor penalties in the last minute dashed their hopes while Johnny Oduya flipped Sweden’s fourth into an empty net with just one second to go.
Russian claimed the gold with a 2-1 win over Canada in the final later on Sunday.
Canada had taken the lead when Ottawa Senators forward Jason Spezza struck at 5:37 into the match with his seventh goal of the tournament, sending the puck into the net from Shane Doan’s backhand pass.
But Russia levelled at 12:57 through Saprykin, who redirected in Vitaly Atyshov’s slap shot on a powerplay.
In the second, Canada outshot Russia 16-5, but it was Alexander Radulov who scored 14:30 into the period beating Canada’s goalie Dwayne Roloson from close range.
Canada continued to dominate, pinning the Russians back but to no avail as the reigning champions defended stoutly. In goal, Bryzgalov was in total command and was named the player of the game.
Canada replaced Roloson with a minute to go in an attempt to pull the scores level, but Russia managed to keep their narrow lead to clinch their second title in a row for the first time since the fall of the Soviet Union.