Shares fall in morning trade A FURTHER slump in the gold price and disappointing job advertisement figures have dragged the Australian stock market lower. Shares managed some small gains early in Monday's session before turning negative by noon. Resources stocks were the worst performers, weighed down by a fall in the gold price over the weekend, CMC Markets chief market strategist Michael McCarthy said. "We have seen weakness again in materials stocks but in particular it is those gold stocks that are glowing red," he said. Gold miner Newcrest Mining had dropped 91 cents, or 8.57 per cent, to $9.81. The wider market took a hit after the release of ANZ Job Advertisement figures at 1130 AEST, which showed a 1.8 per cent fall in the number of ads posted in June, Mr McCarthy said. "That has certainly added to what was already a negative tone to the session," he said. But trading volumes had been relatively light, and the market could improve in the afternoon as investors take advantage of lower stock prices, he added. Among the big miners, BHP Billiton was down 68 cents to $30.92 and Rio Tinto was $1.26 weaker at $51.46. Atlas Iron was down 5.75 cents, or 6.82 per cent, to 78.5 cents, after announcing it would start construction work on a new Pilbara mine. Among the big four banks, Commonwealth shares were up 16 cents to $69.15, while ANZ was down 19.5 cents to $28.20, Westpac was down five cents to $28.30 and National Australia Bank was 18.5 lower at $28.98. At 1241 AEST, the benchmark S&P/ASX200 index was down 49.5 points, or 1.02 per cent, at 4,792. The broader All Ordinaries index had shed 46.4 points, or 0.96 per cent, at 4,780. On the ASX 24, the September share price index futures contract was 41 points lower at 4,753 with 14,717 contracts traded. National turnover was 769 million securities worth $1.56 billion.