Toronto stocks were generally weak today, as gold prices tumbled and financials failed to prop up the broader market.

The S&P/TSX Composite index closed down 17.48 points, or 0.13%, at 13,727.53.

Eight of the 10 major TSX groups dropped today.

The financials group sector closed down 0.69%, as CIBC shares fell 90¢, or 1.31%, to close at $68. As well, Bank of Nova Scotia stock lost 46¢, or 0.98%, to close at $46.66.

The energy group, however, was one of the few gainers, closing up 0.41%. The May crude contract dropped US59¢, or 0.5%, to end at US$108.5 a barrel on the New York Mercantile Exchange.

Shares in First Calgary Petroleums Ltd. gained 6¢, or 2.3%, to finish at $2.67, after a judge ruled that the company can delay its shareholder meeting until April 18.

Meanwhile, the materials group closed down 0.21%, as the gold sub-index tumbled 1.69%.

Gold for June delivery fell US$8.80 to end at US$918 an ounce on the New York Mercantile Exchange and the International Monetary Fund (IMF) said it would sell more than 14.2 million ounces of its gold reserves.

Goldcorp Inc. shares lost 92¢, or 2.25%, to close at $40.03. Barrick Gold Corp. shares lost $1.09, or 2.44%, to close at $43.60, as the company’s proxy circular, released today, showed CEO Gregory Wilkins earned more than US$10.7-million last year.

The base metals sector was another gainer, rising 1.21%, as Teck Cominco Ltd. shares gained $1.75, or 3.76%, to close at $48.25.

In corporate earnings news, Harry Winston Diamond Corp. shares gained 75¢, or 2.85%, to close at $27.05, after it reported Q4 profit of US$90.4 million up from $27.3 million a year earlier.

The junior S&P/TSX Venture composite index closed down 5.42 points, or 0.21%, at 2545.90.

The Canadian dollar closed out at US98.62¢, down 0.07 of a cent from yesterday’s close.

The IMF released a grim report today on the global financial system, predicting the spread of the global credit crisis.

In New York, stocks were sent lower on the weak Alcoa profits and news that Washington Mutual Inc. cut it’s dividend and was set to receive a US$7 billion cash injection.

The release of the minutes of the U.S. Federal Reserve’s March meeting, which showed concern about a severe economic downturn led to policy decisions, also weighed on markets today.

The Dow Jones industrial average closed down 35.99 points, or 0.29%, to end at 12,576.44. The S&P 500 fell 7 points, or 0.51%, to close at 1,365.54.

Meanwhile, the tech-heavy Nasdaq composite index closed down 16.07 points, or 0.68%, at 2,348.76.