The charts tell the story, says precious metals expert Michael Ballanger, adding that the mining and metals market have the forward momentum of Secretariat as he clinched the Triple Crown
Shares in mining giants tumble after civil suit in Brazil claims $43 billion in damages based on clean-up costs associated with BP's oil spill in the Gulf.
The Chinese urgency points to two things. China believes that crude oil prices will not remain at the current levels for long, and that a disruption is possible due to geopolitical reasons, which can propel oil prices higher.