Karachi: Gold and the stock market emerged as the top-performing asset classes in Pakistan for 2025, according to a recent analysis. Gold saw a significant increase, with prices rising by 73%, from Rs233,711 to Rs405,402 per 10 grams. Internationally, gold also experienced a substantial price hike, surging from US$2,612 to US$4,503 per ounce.

The KSE-100 Index, representing the stock market, recorded a 48% increase for the year, marking the second-largest return among selected asset classes. This gain includes dividends received throughout the year, with four trading sessions still remaining.

Real estate, traditionally a favored investment in Pakistan, showed moderate growth. Commercial and residential plot prices in DHA Karachi and DHA Lahore increased by 18% and 15%, respectively. House prices in these areas saw a more modest rise of 8%.

The Naya Pakistan PKR certificate under the Roshan Digital Account provided a 22% return, while the US$ certificate yielded a 10% return. The US Dollar maintained a 1% return, with a slight increase in exchange rates in both interbank and open markets.

Fixed-income investment avenues posted lower returns. The average bank saving rate was 9%, while the National Savings 3-year Special Saving Certificate offered a 12% gain. Local Asset Management Companies' money market funds averaged an 11% return.

Government securities, impacted by monetary easing, showed moderated returns. Pakistan Investment Bonds delivered a 14% return, and Treasury Bill investors earned 12%, with investments reinvested every three months.

Analysts from Topline Securities, who compiled the report, confirmed that their evaluations reflect personal views and are not influenced by compensation related to specific recommendations. They employ a three-tier rating system to assess stocks and sector performance, based on expected returns compared to the KSE-100 Index.

The report underscores the diverse investment landscape in Pakistan, highlighting the varying returns across asset classes in 2025.