Best returns in August came from ETFs loved by gold bugs

Investing in gold and silver miners paid off this month for investors in equity exchange-traded funds. BlackRock Inc.'s iShares MSCI Global Gold Miners ETF, known as RING, has returned almost 14% in August, more than any other unleveraged stock fund in the U.S., data compiled by Bloomberg show. [Recommended video: Young professionals see lots of opportunity to reinvent the advice experience] ​ Close behind, with gains approaching 13%, are two funds of silver miners, with strategies tracking ore extractors accounting for eight of the top 10 performers.https://www.investmentnews.com/assets/docs src="/wp-content/uploads2019/08/CI120528830.PNG"

With bond yields increasingly depressed, many investors that are taking off risk are heading into alternatives, like commodities. Just this week, gold prices rose to a six-year high and silver touched its strongest in two years, as concerns that the U.S.-China trade war is weighing on global economic growth boosted the appeal of safe havens. Gold rallied nearly 7% in August, and silver climbed 13%. [More: The upside of betting on inflation]​ "Gold's current price level hints at a potentially longer, sustained rally," Joe Foster, portfolio manager and strategist at VanEck, wrote in a note this week. "We believe this, along with the steps gold miners have taken to reduce costs and capital expenditures, make gold stocks an attractive opportunity." [More: Low-cost gold ETFs introduce new fiduciary challenge]