Gold funds were standout winners in August as investors' appetite for risk waned amid concerns of a tapering of monetary stimulus in the US and potential military action in Syria.
The price of gold, which is traditionally viewed as a 'safe haven' asset, rose by 3.9% (in sterling terms) in August, building on a strong recovery in July. The FTSE Gold Mines index rose 8.9% in August. However, investors should note that gold mining shares are still down 44% this year even after the rebound experienced over the last few weeks. Global emerging markets were hit particularly hard as investors' risk appetite dwindled. Charles Stanley Direct pension and investment analyst Rob Morgan said: "While most markets fell [in August] it was Japan and Global Emerging Markets fu...
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