Pakistan Gold Market Analysis
2020-2025 Trends & Investment Insights
Gold: +300% (5 Years)
Peak: Rs 357,800/tola
Gold Price (May 2025)
Rs 350,000+
+300%
Peak Inflation (2023)
40%
Multi-decade high
Current Inflation (2025)
0.3%
Base effects
USD/PKR (May 2025)
Rs 281-282
+100%
Policy Rate (May 2025)
11%
Down from 22%
Asset Performance
Key Drivers
Future Scenarios
Investment Strategy
Asset Class Performance (2020-2025)
Comparative returns across major investment options in Pakistan
Gold (24K)
Medium Risk
300%+
25.2% p.a.
USD Holdings
Low Risk
100%+
21% p.a.
PSX Equities
High Risk
Variable
18.3% p.a.
Real Estate
Medium Risk
60-150%
11-18% p.a.
Fixed Income
Low Risk
Below Inflation
14.9% p.a.
Gold Price Journey
From Rs 88,000 to Rs 350,000+ per tola
Jan 2020
Rs 88,000
End 2020
Rs 113,700 (+29%)
End 2021
Rs 126,000 (+11%)
End 2022
Rs 183,600 (+45%)
End 2023
Rs 220,000 (+20%)
May 2025
Rs 350,000+ (+59%)
Why Gold Outperformed
Key factors driving exceptional returns
Inflation Hedge
Protected against 40% peak inflation
Currency Devaluation
PKR weakened ~100% vs USD
Global Uncertainty
Safe-haven demand during crises
Central Bank Buying
Record global CB purchases