Gold and equities dominated Pakistan’s investment landscape in 2025, delivering the highest returns among major asset classes. According to Topline Securities, gold emerged as the top-performing asset of the year, followed closely by the stock market, reflecting strong investor appetite for growth despite economic challenges.
Gold Leads with Record Return
Gold proved to be the most rewarding investment in 2025, posting an impressive 73% return between January and December. Local gold prices surged from Rs. 233,711 to Rs. 405,402 per 10 grams, while international prices climbed sharply to $4,503 per ounce by late December.
A Topline Securities report noted,
“Gold remained the preferred hedge against uncertainty, outperforming all other asset classes during the year.”
Stock Market Rallies on Confidence
The KSE-100 Index ranked as the second-best performing asset, generating a 48% total return including dividends. Strong trading volumes, improved sentiment, and dividend payouts supported the rally, making equities one of the most attractive investment options for growth-focused investors in 2025.
Real Estate and Fixed-Income Stay Stable
Real estate maintained steady momentum, particularly in prime areas such as DHA Karachi and DHA Lahore, where commercial plots rose by 18% and residential plots by 15%, according to Zameen.com. House prices increased at a slower 8% pace.
Government-backed investments also delivered reliable returns. The Naya Pakistan PKR Certificate yielded 22%, while Pakistan Investment Bonds offered 14%. Treasury Bills and Special Saving Certificates posted returns around 12%, appealing to risk-averse investors.
Currency and Crypto Performance
The US dollar showed limited gains of 3–4% as the rupee remained largely stable. In contrast, cryptocurrencies recorded a –4% return, reflecting global volatility and Pakistan’s regulatory restrictions.
Overall Outlook
The 2025 performance highlights that investors who prioritized gold and equities achieved the strongest gains, while real estate and government securities provided stability. Despite economic pressures, diversified portfolios continued to deliver dependable results.
