CANADA STOCKS-TSX falls as resource shares drag

Mon Jun 28, 2010 4:35pm EDT
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* TSX down 100.85 points at 11,607.

* Weak energy, gold prices weigh

* G20 summit fails to lift market (Updates to close)

By Claire Sibonney

TORONTO, June 28 (Reuters) - Toronto's main stock index fell broadly on Monday, driven lower by commodity weakness in general and a steep drop in gold prices in particular.

Gold retreated 1 percent on a technical sell-off and a decline in safe-haven buying after an initial rally that might have lifted gold to a record high fizzled.[GOL/]

"I think the biggest movement today was a strong reversal in the precious metal sector," said Francis Campeau, broker at MF Global Canada in Montreal.

Gold-mining stocks were down 1.3 percent with shares of Barrick Gold (ABX.TO: Quote) falling 0.5 percent to C$47.86, and Goldcorp Inc (G.TO: Quote) losing 0.8 percent to C$46.74.

U.S. crude oil futures also ended lower as tropical storm Alex in the Gulf of Mexico took a path that offered little serious danger to oil and natural gas production. [O/R]   Continued...