Rio Tinto names Shell’s Katie Jackson as new copper chief
Jackson, who is the current president of National Grid Ventures, an energy group, joins Rio Tinto on September 1.
After getting clobbered yesterday, gold and silver rallied Tuesday on a stronger commodities market, along with bargain hunting at lower precious metals prices and short covering.
Spot silver gained 3.5% to $32.77 a troy ounce, while the December gold contract was up 1.3% to $1699/oz.
Other factors behind the precious metals surge, according to Kitco News, were reports of better physical demand for gold; the failure of a U.S. Congress “supercommittee” to agree on spending cuts; stabilization of the European debt crisis following a well-subcribed Italian bond auction; and market relief that key ratings agencies would not downgrade US debt.
