The Australian share market has closed lower as commodity price falls and weak economic data from China sparked a major sell off.

Last week’s gains were wiped out and some of the big miners were punished as gold prices fell to their lowest since 2011.

The ASX200 recorded the largest one-day fall in three weeks.

IG markets strategist Stan Shamu said investors were looking for somewhere safe to park their money, making defensive stocks appealing, after the release of weaker Chinese economic growth data.

“We’re seeing all of the major resources names struggle,” Mr Shamu said.

The price of gold reached its lowest level since 2011 on Friday night, while contract prices for oil, copper and other metals also took a tumble.

“It really has spooked a lot of investors who may be starting to think this is the beginning of a deeper correction after a pretty good few months of a rally,” Mr Shamu said.

China’s economic growth rate slowed unexpectedly in the first three months of the year, fuelling concerns about the strength of its shaky recovery.

Gold miners were the worst-performing sector, with Kingsgate Consolidated sliding 15.19 per cent, or 53 cents, to $2.96.

Newcrest Mining was off $1.61, or 8.24 per cent, at $17.92 and Ramelius Resources was four cents lower at 25 cents.

The nation’s two biggest miners, BHP Billiton and Rio Tinto, were hit by the weaker commodity prices and softer Chinese economic data.

Billiton declined $1.04, or 3.12 per cent, to $32.31, while Rio Tinto fell $1.81, or 3.18 per cent, to $54.09.

Fortescue shares were 25 cents, or 6.23 per cent, lower at $3.76.

Telstra was four cents higher at $4.65.

KEY FACTS

* The benchmark S&P/ASX200 index was down 45.6 points, or 0.91 per cent, at 4,967.9 points.

* The broader All Ordinaries index was 49.2 points, or 0.98 per cent, weaker at 4,966.8.

* The June share price index futures contract was down 50 points at 4,966, with 30,002 contracts traded.

* National turnover was 1.54 billion securities worth $4.39 billion.