New Delhi, Jan. 22 -- Assets traditionally seen as safe havens, such as gold and silver, have moved centre stage, with investors flocking to them amid rising global uncertainty. Volatile equity markets have left many questioning how their asset allocation should be structured in the current environment.

To make sense of the shifting landscape, Mint spoke to Devina Mehra, founder, chairperson and managing director of First Global, on her views across asset classes.

Edited excerpts:

What stands out to me is that an increasing number of commentators are openly discussing market risks. That's quite different from the usual narrative centred on the India growth story.

Historically, when sentiment turns broadly pessimistic, it often acts as...