Update: Yuna Kim won the silver medal for ladies single figure skating event. Adelina Sotnikova of Russia won the gold medal and Italy's Carolina Kostner went away with the bronze.

Adelina Sotnikova scored 149.95 in the free skate, Yuna Kim scored 144.19 and Carolina Kostner scored 142.61. 

Sotnikova's total score was 224.59 and Yuna Kim scored 219.11. 

==

The showdown among the world's top skaters will take place during the women's free skate figure skating competition on Thursday, Feb. 20, 2014.

Live results of the free skating event can be seen here.

Will Yuna Kim make history by becoming the third person to win consecutive gold medals in individual figure skating?

The 23-year-old South Korean is the favorite to win the gold medal, followed by Mao Asada of Japan and Julia Lipnitskaia of Russia. However, both rivals suffered a fall during the short skate program on Wednesday, giving Kim the lead.

Yuna Kim performed an elegant routine to 'Send in the Clowns', earning the highest score of the night – 74.92. But she leads only by a slight margin of 0.24 points. Her score was lower than the record she set four years ago at the 2010 Olympics in Vancouver when she landed 78.50 for her James Bond themed short program.

Slightly behind Kim with 74.64 points is 17-year-old Adelina Sotnikova of Russia. The teen's stellar performance to 'Carmen' gave her a technical score higher than Kim's and bumped her to second place in the ladies short program. She had in fact landed her personal best score ever on the Olympic stage.

Hot on the heels of Yuna Kim and Adelina Sotnikova is Carolina Kostner of Italy, who skated a flawless performance, with the judges rewarding her a score of 74.12.

Kim skated 17^th for the short program, much earlier than other favorites because of her current international standings (she had to miss out on competitions due to multiple injuries). She has never finished off the podium in any competitive event throughout her entire career.

However, she will be the last skater in the free skate on Thursday, Feb. 20. The pressure would be on her shoulders to win another gold medal for South Korea when she takes to the ice.

Do you think Yuna Kim will reign as the Ice Queen and win the gold medal tonight?

Watch Yuna Kim's performance of 'Send in the Clowns' at the Golden Spin of Zagreb in 2013, and 'Adios Nonino' in the 2014 South Korean national championships below:

See the ladies' free skate long program NBC TV schedule for Feb. 20, 2014 below:

Feb. 20 – Ladies Free Skating Program
Time: 10 a.m. ET on NBC Sports Network (live stream via NBCOlympics.com) / 8 p.m. ET on NBC (replay)