Falling commodity prices pulled down Canadian resources shares on Monday. The S&P/TSX composite index fell 138.55 points, or 1.04%, at 13,203.19.

The loss followed a 158-point decline last week as commodity stocks, particularly in the energy sector, continued to sell off amid slowing demand

Seven of the 10 TSX main groups closed in negative territory on Monday.

The materials group, home to mining companies, fell 4.7% as prices for gold and other metals weakened. Gold slumped to below US$820 an ounce

Barrick was down $2.40 at $35.00, while Teck Cominco lost $1.92, or 4.7%, to $39.32.

Fertilizer shares also lagged, with Agrium falling $3.96, or 4.7%, to $79.94, and Potash Corp of Saskatchewan giving up $11.44, or 6.3%, to $171.55.

The TSX energy sector slipped 0.07% as the September crude contract in New York fell 75¢ to US$114.45 a barrel. The sector was earlier down around 2% as oil at one point dropped to US$112.72.

Canadian Natural Resources finished up $1.20 to $78.78 while PetroCanada dropped 24 cents to C$46.40.

Among individual stocks, Cardiome Pharma dropped $2.28, or 17.7%, to $10.57 after the company said U.S. regulators had requested more information on its Kynapid treatment for a potentially fatal heart condition.

Shares of Manitoba Telecom Services slipped after the company reported a lower quarterly profit even as it cut costs and had growth in some of its services. MTS closed down 57¢, or 1.4%, at $40.69.

Falling commodity prices also send stocks on the Toronto Venture Exchange sharply lower. The junior S&P/TSX Venture composite index plunged 76.12 points, or 3.64%, to 2,015.35.

The Canadian dollar continued its descent on Monday. The loonie slipped 0.17¢ from Friday’s close to end at US93.52¢.

In New York, U.S. stocks rose on Monday as oil prices closed lower, lifting the Dow to its fourth gain in five sessions.

The Dow Jones industrial average gained 48.03 points, or 0.41%, to 11,782.35, while the S&P 500 rose 9.00 points, or 0.69%, to 1,305.32. The tech-heavy-Nasdaq Composite Index umped 25.85 points, or 1.07%, to 2,439.95.