Gold and equities emerged as the best-performing investment options in Pakistan in 2025, offering much higher returns than real estate, fixed-income instruments, and foreign currency holdings. This was revealed in a market review published by Topline Pakistan Research.
Gold delivered the strongest performance during the year. Between January 1 and December 24, 2025, gold posted a return of 73 percent.
Local gold prices rose sharply from Rs. 233,711 per 10 grams to Rs. 405,402 per 10 grams. In the international market, gold prices also surged, climbing from $2,612 per ounce at the end of 2024 to $4,503 per ounce by December 26, 2025.
The Pakistan Stock Exchange ranked second among top-performing assets. The benchmark KSE-100 Index recorded a 48 percent increase during the same period, including dividend income, with a few trading sessions still remaining in the year.
Real estate showed moderate growth compared to gold and stocks. Data cited by Topline showed that average prices of commercial and residential plots increased by 18 percent in DHA Karachi and 15 percent in DHA Lahore. House prices in both cities rose by around 8 percent.
Returns on Roshan Digital Account investments were mixed. PKR-based Naya Pakistan Certificates offered a 22 percent return, while the dollar-based version delivered 10 percent.
The US dollar remained a weak option for local investors, with returns of only about 1 percent.
Fixed-income investments also produced lower returns due to easing interest rates. Bank savings, government securities, and money market funds delivered returns between 9 and 14 percent during the year.