Global Capital Shifts: US to Gold, Silver, Non-US Equities, India - IKIGAI's Tibrewal

• Global capital is rotating from the US to precious metals (gold, silver), non-US equity markets, and India, driven by weakening dollar dominance and rising fiscal stress in developed economies.
• The era of smooth globalization is fading, with trade becoming more regional and political considerations influencing economic decisions, leading to a gradual erosion of US dollar dominance.
• US share of global trade declined from one-third in 2000 to one-quarter today; dollar's share of global foreign-exchange reserves fell from 72% to 58%.
• Non-US equity markets and commodities outperformed American equities in 2025; MSCI Emerging Markets Index rose nearly 30% vs. S&P 500's 16% gain.
• India's macroeconomic position is strong, with 8.2% GDP growth in Q2 FY26, stable external position, and potential to benefit from global capital reallocation.

Why It Matters: Global capital is reallocating from the US to gold, silver, and non-US markets, including India, due to shifting economic dynamics.