CANADA STOCKS-TSX ends lower as gold miners weigh

Mon Mar 19, 2012 5:20pm EDT
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* TSX ends down 17.26 points, or 0.14 percent, at 12,479.70

* Touches two week high earlier in day at 12,561.75

* Material issues weigh as Potash Corp, gold equities fall

* Energy issues up slightly on $125/barrel oil

By Julie Gordon

TORONTO, March 19 (Reuters) - Toronto's main stock index closed lower on Monday after a day of choppy trade as gains in energy issues were undercut by losses among gold miners and fertilizer producer Potash Corp.

The gold price rose on Monday after falling sharply last week, but equity investors were wary as technical factors suggested the precious metal could tumble further.

World No.1 gold producer, Barrick Gold, closed down 1.17 percent to C$43.11, while Eldorado Gold fell 2.83 percent to C$13.07 and Goldcorp slid 0.69 percent to C$43.38.

"In Canada, the gold sector has been a drag on the overall market," said Fergal Smith, managing market strategist at Action Economics. "So the rally on the TSX has tended to lag the rally on Wall Street."   Continued...