NEW YORK (Commodity Online): The international gold prices have shown a dip in past 30 trading days falling by 6.28% or USD 71.40 per ounce accompanied by the gold stocks on the New York Stock Exchange (NYSE) that witnessed heavy sellout on the back of firmness in dollar for the given period and traders’ inclination towards shot-term gain rather than holding the yellow metal for longer period.

Gold traders have been following short-term forecast gains, which essentially gives them higher amount of liquidity as well as freedom to move to other higher returning asset-class. The US gold market, even if it is gold Futures or gold exchange-traded funds, have always dominated the short-term trends of the gold price itself over the bill market till date.

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Reflecting the similar sentiments on the bourses, investors dramatically withdrew money from gold stocks dragging them to their recent lows. Gold stocks on the NYSE including, Coeur D Alene Mines Corp (NYSE:CDE) fell to USD 14.17 in recent trades down from its level close to USD 20 30-days back.

Similarly, Yamana Gold Inc (NYSE:AUY) was trading at USD 10.26 today after losing its level close to USD 13 in the first week of January 2010. New Mont Mining Corp (NYSE:NEM) sank to USD 45.05 in recent trades after touching its high of USD 50 in past month.

Gold Fields Ltd (NYSE:GFI) touched close to USD 14 on the NYSE, however it fell sharply to touch USD 11 in recent trades.

Although, recently a surge was witnessed in the gold prices for April delivery, which added USD 12.80 to USD 1,065.60 per ounce at the Comex division of the New York Mercantile Exchange. Prices have traded as high as USD 1,074.30 and as low as USD 1,062.50.

The dollar, recently, came under pressure after the weaker dollar increased gold's appeal as an alternative asset as bargain hunters used last week's selloff to buy.

However, gold's upper level is difficult to sustain longer as investors stay cautious over lingering overseas debt fears in Greece, Spain and Portugal. The group of Seven (G7) countries announced that member nations would continue to provide the stimulus to which they remain "mutually committed" but were looking ahead for strategies to end the flow of free money.

Continued stimulus could put short-term pressure on the euro, give the dollar support and weigh on gold prices.

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