Gold market roundup
It was a quiet September for gold in Australian dollars. If you were hoping your favourite shiny safe haven would shoot the moon you might have been slightly disappointed, as the precious metal's exchange-traded fund proxy fell 0.72% last month. Gold is largely seen as a safe haven and these downward movements showed less confidence in any looming economic disaster.
When we looked back a bit further the picture shifted. The proxy rose 2.49% over the past three months and offered a little relief for investors. The longer view told a tougher story though. The asset fell 7.24% over the year so far, which meant gold bugs had some digging to do. We kept our focus entirely on percentage moves rather than absolute prices since this was an exchange-traded fund proxy but it was obvious the market experienced quite a bumpy ride.

