Private Investor's Diary Portfolio 

Private investor's diary: Bagging biotech gains

Private investor's diary: Bagging biotech gains

North Korean leader Kim Jong-un probably had the greatest impact on markets during the holiday month of August. Markets were not quite sure how to react to his continual baiting of the US and its allies. Gold was the main beneficiary of increased geopolitical tension, up 4.2 per cent to $1,338 (£990.87), its highest level since September last year. Other commodities were also strong, with copper up 6.6 per cent, closing the month at its highest price in nearly three years. Whether faster world economic growth or the sudden realisation that a lot of copper is used in electric motors is behind this move is a moot point. It looks, with demand accelerating, that it has further to go. (I’m rather regretting my sale of BlackRock World Mining (BRWM) a few months back, but at least I replaced it with Central Asia Metals (CAML) during July and August). Oil was steady, with Brent crude flat on the month at $52.19 a barrel. 

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