Gold is having a stellar run in 2025, with prices hitting $4,000 an ounce mark for the first time ever. The yellow metal is up over 50 percent year to date. For investors, is this a moment to pause and reassess.

According to DSP’s Netra report, gold is now trading around its fair value based on global money supply and while the rally has strong fundamentals, the margin of safety is shrinking.

The yellow metal’s bull run is driven primarily by central-bank buying and a weaker US dollar. "In each bull market, gold trades at or above its long-term theoretical price. Currently, gold

is trading at $3,868, which is over the modelled theoretical price," DSP's latest market intelligence report said.

DSP’s model indicates that in previous cycles, gold traded 40 percent above its theoretical

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