TORONTO (Reuters) - Toronto's main stock market index ended slightly lower yesterday as a weaker gold price dragged down producers and weaker than expected corporate results weighed.

Disappointing results from several companies, including TransAlta and Finning International, outweighed early benefits from Federal Reserve Chairman Ben Bernanke's commitment to keep US interest rates low.

An unexpected drop in new US home sales also underscored concerns about the shaky US economic recovery, which helped to pull down the price of gold below $1,100 an ounce. Oil, however, was up on the day, above $80 a barrel, but the energy group stayed negative.

The resource-laden Toronto Stock Exchange's S&P/TSX composite index closed down 4.88 points, or 0.04 percent, at 11,521.83, its third straight session lower.

US stocks, meanwhile, rose sharply as investors welcomed the promise of more cheap money.

"We've been unable to follow the trend south of the border. The US markets have had a pretty strong day but not so much in Canada," said Elvis Picardo.

"Most of the downdraft is coming from the materials group."

TransAlta fell 1.9 percent to C$23.21 after Canada's biggest publicly owned electricity producer said its profit fell 16 percent.

Finning fell 3.27 percent to C$17.46 after the world's largest Caterpillar equipment dealer returned to profit, but revenue sagged.

The Canadian dollar gained slightly against the US dollar yesterday as investor appetite for riskier assets was whetted by remarks from US Federal Reserve Chairman Ben Bernanke, who reaffirmed his vow to keep interest rates low.

Bernanke told Congress that a weak job market and low inflation would likely allow the U.S. central bank to keep interest rates at very low levels for "an extended period".