West Texas Intermediate crude fell to the lowest level this year as China’s economic growth unexpectedly lost momentum, raising concern that demand from the world’s second-biggest oil-consuming country will slow.

Prices broke below $90 as China’s first-quarter gross domestic product increased 7.7 percent from a year earlier, the National Bureau of Statistics reported in Beijing. That’s less than the 8 percent forecast in a survey of economists and the 7.9 percent expansion in the fourth quarter. China’s oil use was the least in five months in March, statistics bureau data showed. Commodities tumbled, led by metals and energy.

China’s first-quarter growth was lower than all except two of the 41 analyst estimates in the survey. They ranged from 7.5 percent to 8.3 percent. Chinese GDP expanded 7.8 percent in 2012, the least since 1999.

China used 9.76 million barrels of oil in 2011, according to BP Plc (BP/)’s Statistical Review of World Energy, behind only the U.S. in terms of oil consumption.

China’s apparent oil demand in March grew 2.7 percent from a year earlier to 9.77 million barrels a day, according to statistics bureau data compiled by Bloomberg. That’s down from February’s 10.2 million and is the lowest level since October.

Slower economic growth “translates into weaker oil demand growth, but we think development there is still pretty energy intensive,” Walker said.

Oil also fell as manufacturing in the New York region expanded less than projected in April. The Federal Reserve Bank of New York’s general economic index dropped to 3.1 this month from 9.2 in March. Readings exceeding zero signal expansion in New York, northern New Jersey and southern Connecticut.

WTI for May delivery falling to $87.86, the lowest intraday level since Dec. 19. The volume of all futures traded was almost double the 100-day average.

Brent for May settlement, which expires today, fell $2.58, or 2.5 percent, to $100.53 a barrel on the London-based ICE Futures Europe exchange after dropping to $100.41 a barrel, the least since July. Volume was 34 percent above the 100-day average. The more actively traded June contract slid $2.35, or 2.3 percent, to $100.69.

In the course of trading on Monday the price of gold has fallen by nearly 10% against the statistics from China, were worse than expected, as well as investors' concerns regarding the continuation of the negative dynamics of prices for precious metals.

China's economy in the I quarter of 2013, year on year increase of only 7.7%, which was lower than the forecasts of experts. From January to March, China's GDP reached 11.885 trillion yuan. The growth was weaker than in the same period last year, while the economy grew by 7.9%. Recall that by the end of the year the government forecast a GDP growth of 7.5%.

In general, the published data were worse than forecasts of experts who still waiting for surprises. And I must say, were the prerequisites for this. The economy showed an increase in liquidity was also recorded growth in exports. Not pleased investors and other data. Thus, industrial production in March, which added 8.9% against the forecast of 10.1%. Almost in line with expectations but retail sales, which grew by 12.6%.

It is worth noting that the foreign exchange market in China today set a record. The People's Bank of China fixed the yuan to the dollar at around 6.2452 - with up to 2005, when the revaluation of the Chinese currency. The negative statistics on China added to the negative equity and commodity platforms. , Sales are almost everywhere. In China, the major indexes lost about 1%, Hong Kong's losses amount to 1.5%, while Japan's Nikkei is down 1.6%.

As was previously known, the international gold reserves in China by the end of 2012 rose to $ 3.3 trillion, surpassing thus, the cost of the gold reserves of all countries in the world by half. Celestial reserves exceeded the value of all the gold reserves of the planet in 2004. Since then, according to the International Monetary Fund (IMF) and the World Gold Council, gold prices rose by 263% to $ 1.58 million per troy ounce.

In the previous session, on Friday, the precious metals market downward trend in gold prices. After the financial crisis, the precious metals market has attracted the attention of many investors, but the pace of growth in gold prices declined on higher stock markets, low inflation and expectations that the U.S. Federal Reserve will curtail economic stimulus measures in the near future.

Previously, it was also reported that by the end of trading on Monday, April 9, the price of gold fell against the background of billionaire George Soros about the loss of the precious metal as a trusted asset. Recall Soros said that last year's drop in gold prices during the euro crisis has undermined its reputation as a bastion of reliability in the eyes of investors.

The cost of the June gold futures on COMEX today dropped to 1356.60 dollars per ounce.