SAN FRANCISCO (MarketWatch) -- Canadian stocks climbed 2.4% in midday trading on Tuesday, led by strength in metals and mining shares as world markets gained on optimism for more decisive action in the euro-zone debt crisis. The benchmark S&P/TSX

Copper, coal and other industrial commodities can be great tools for predicting economic prospects and right now they’re offering a gloomy outlook, but a closer analysis shows a glimmer of hope as the world struggles to avoid recession.

China's position as the world's economic engine is being reinforced as expectations for growth in developed markets wane, but so is the risk a decline in its appetite for metals and minerals may mean the Asian giant won't offset any Western slowdown.

Canada's main stock index gained nearly 1% Tuesday, recovering the prior session's losses, as gold mining stocks rallied alongside a surge in gold futures.

Platinum prices have comfortably traded much higher than gold for the bulk of the last 20 years or so, but that relationship is starting to change and may signal a new order of value in the precious metals.

An Indian interest-rate decision and a possible legislative battle in Australia are among events that may impact Asian markets next week. The Reserve Bank of India is slated to hand-down its mid-quarter policy decision on Friday.

The Hulbert Gold Newsletter Sentiment Index, which measures the average recommended gold market exposure among a subset of the shortest-term gold market timers tracked by the Hulbert Financial Digest, stands at 40.3%. In late July, when an ounce of gold was trading for nearly $300 less, the HGNSI stood at 67%.

Union workers at Peruvian copper producer Sociedad Minera Cerro Verde said late Friday that they plan to hold a two-day strike starting Sept. 7 to seek a salary increase.

By Chuin-Wei Yap BEIJING -(MarketWatch)- Iron ore imports from sources outside China's four largest suppliers accounted for about a fifth of total ore imports in the first half of 2011, up 4% compared with the same period last year--challenging Australia

The South Korean market led the way for hefty stock losses in Asia Friday, as risk appetite evaporated on a fresh wave of concerns about global growth, with shipbuilders, exporters and financials among the hardest hit.

A miner died in an accident at Mingo Logan Coal Co.'s Mountaineer II facility in West Virginia Monday, reports the Charleston Gazette. The West Virginia Office of Miners' Health, Safety and Training confirmed the fatality.

Up 500 points one day, down 500 the next. That’s the way the market is these days.