Petr Vrana won the game for the Czech Republic at 2:38 in overtime.
Canada won the gold medal with a 6-1 win over Russia Tuesday night. The Canadians went 6-0 during the tournament, outscoring their opponents 41-7. It was Canada's first World Juniors gold medal since 1997.
In addition to Suter, current Badger sophomores defenseman Jeff Likens and center Jake Dowell skated for Team USA, which finished the tournament 3-4 one year after winning the event for the first time in history.
In seven games, Likens tallied four assists while Dowell added three.
Suter, the U.S. captain, finished the tournament with eight points (one goal, seven assists) and was the only American named to the all-tournament team.