Gold glitters among key investment assets in 2022
Business
The precious commodity posted a gain of 41 per cent
KARACHI (Web Desk) - Gold outperformed all major investment avenues by a significant margin in 2022, according to a research note issued by Topline Securities.
The yellow metal was followed by one-year (dollar-based) Naya Pakistan Certificates and the US currency as the best-performing assets in the outgoing year.
These three asset classes provided returns that were higher than the estimated average inflation of around 20 per cent in 2022.
The precious commodity posted a gain of 41pc as its rate rose from Rs108,200 per 10 grams to Rs152,700. Its rate increased 11pc in 2021.
Gold, 1 year Naya Pakistan US$ Certificate and US Dollar remained best performing asset in Pakistan in 2022. Stock market along with Equity Funds under performed other major asset classes in 2022 with benchmark KSE 100 Index falling 10pc.
— Topline Securities (@toplinesec) December 27, 2022
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In the local bullion market, gold has rallied in line with the rising dollar rate in the black market.
The holder of US dollar NPC under Roshan Digital Account (RDA) also made 36pc in Pak rupee terms on a falling value of the rupee.
Similarly, holders of the cash dollar made a gain of 28pc in 2022 as the official bank rate of the US dollar rose from 177 at end of 2021 to 226 now.
According to the Topline Securities research, the return on bank deposits (excluding current accounts) and special saving certificates issued by the government was 11pc on average in the outgoing year.
