巴基斯坦的金融市场着火了，但是每个投资者的想法都有一个问题：您应该把钱放在哪里？

这些数字令人惊叹。 KSE-100指数在2024年飙升了84％，仍在攀升，而在大规模集会后，黄金跃升了19.2％。

Pakistan’s financial markets are sizzling hot, but with stocks, gold, and crypto all making headlines, investors are burning a question: Where should you put your money?

巴基斯坦的金融市场嘶哑，但是股票，黄金和加密货币都成为头条新闻，投资者正在燃烧一个问题：您应该把钱放在哪里？

The KSE-100 Index soared 84% in 2024 and is still climbing, while gold prices shot up 19.2% after a massive rally. Meanwhile, crypto adoption in Pakistan is booming, with 20 million users reportedly engaging in digital assets.

KSE-100指数在2024年飙升了84％，仍在攀升，而在大规模集会后，黄金价格上涨了19.2％。同时，巴基斯坦的加密采用率正在蓬勃发展，据报道，有2000万用户从事数字资产。

But as investment avenues multiply, the question remains: What’s the smartest bet? Should you stick with traditional assets like stocks and gold, or is it time to experiment with the volatile world of crypto?

但是，随着投资途径的增加，问题仍然存在：最明智的赌注是什么？您是否应该坚持使用股票和黄金等传统资产，还是该尝试挥发性世界的加密世界了？

Let’s break down the pros and cons of each asset class and see what experts have to say.

让我们分解每个资产类别的利弊，看看专家必须说些什么。

Stocks: The Long-Term Stability

股票：长期稳定

Experts like Mustafa Fahim, an investment banker, advise keeping 60-70% of a portfolio in stocks, especially blue-chip companies and index funds, for long-term stability and solid returns.

投资银行家穆斯塔法·法希姆（Mustafa Fahim）等专家建议将60-70％的投资组合保留在股票中，尤其是蓝筹公司和指数基金，以提供长期稳定和稳定的回报。

Over the years, the PSX has delivered an annualized average return of 20%, making it a reliable choice. However, stocks are known for their volatility, especially in the short term.

多年来，PSX的年平均水平为20％，使其成为可靠的选择。但是，股票以波动性而闻名，尤其是在短期内。

This year alone, the KSE-100 Index has shot up 84%, which is an incredible feat. While some analysts predict another 35-40% return in the next year with the IMF review boosting investor confidence, such gains are yet to be seen.

仅在今年，KSE-100指数就投入了84％，这是一项令人难以置信的壮举。尽管一些分析师预测，随着国际货币基金组织审查增强了投资者的信心，明年再有35-40％的回报，但尚待看到这些收益。

Gold: Safe Haven or Missed Opportunity?

黄金：避风港还是错过的机会？

Gold is often the go-to asset in uncertain times. It’s stable, easy to liquidate, and has recently surged past Rs325,000 per tola. But is it the best place to park your money?

黄金通常是不确定时期的首选资产。它稳定，易于清算，最近又飙升了325,000卢比。但这是停放您的钱的最佳场所吗？

Analysts like Shankar Talreja argue that gold’s rally may be slowing down, with future gains likely to be lower than last year.

像Shankar Talreja这样的分析师认为，黄金的集会可能正在放缓，未来的收益可能低于去年。

Historically, gold’s long-term returns pale in comparison to stocks. While it remains a great stabilizer in any portfolio, relying too heavily on it could mean missing out on bigger opportunities.

从历史上看，与股票相比，黄金的长期回报苍白。尽管它在任何投资组合中仍然是一个很好的稳定剂，但过于依赖它可能意味着错过更大的机会。

Crypto: High-Risk, High-Reward

加密：高风险，高回报

Here’s where things get interesting. Despite being unregulated in Pakistan, crypto has captured massive attention. Reports claim 20 million Pakistanis are using crypto, but here’s the catch—many aren’t investors. They use it for transactions, avoiding banking restrictions.

这是事情变得有趣的地方。尽管在巴基斯坦不受监管，但加密货币仍引起了广泛关注。报道称，有2000万巴基斯坦正在使用加密货币，但这是捕捞量 - 许多不是投资者。他们将其用于交易，避免银行业务限制。

Experts remain divided. Talreja warns of crypto’s extreme volatility, suggesting that only those comfortable with the risk should allocate a small portion, like 10%, of their portfolio to digital assets.

专家仍然分裂。塔里亚（Talreja）警告说，加密货币的极端波动性，这表明只有那些满意风险的人才能将一小部分（例如10％的投资组合）分配给数字资产。

On the other hand, Fahim believes younger investors can afford to take the risk, especially with Bitcoin, the most established cryptocurrency, being seen as the safest bet.

另一方面，法兴（Fahim）认为，年轻的投资者有能力承担风险，尤其是比特币（比特币，最成熟的加密货币，被视为最安全的赌注。

The Real Issue: Lack of Financial Literacy

真正的问题：缺乏金融素养

So why aren’t more people investing in stocks? One word: education. There’s a deeply ingrained belief in Pakistan that gold and real estate are the best investments.

那么，为什么没有更多的人投资股票呢？一个词：教育。人们对巴基斯坦有一个深深的信念，即黄金和房地产是最好的投资。

Meanwhile, financial literacy remains low, and tax concerns discourage many from entering the stock market.

同时，金融素养仍然很低，税收问题阻止许多人进入股票市场。

And what about those 20 million crypto users? Fahim believes this figure is misleading. Many people buy and sell crypto for practical reasons, not as an investment strategy.

那2000万加密使用者呢？法希姆认为这个数字具有误导性。许多人出于实际原因买卖加密货币，而不是作为投资策略。

If Pakistan legalizes crypto, it could see even more adoption—but also taxation, which might change investor sentiment entirely.

如果巴基斯坦使加密货币合法化，它可能会看到更多的收养，但也可以征税，这可能会完全改变投资者的情绪。

The Verdict: What Should You Do?

判决：你该怎么办？

If you’re looking for stability, gold is a safe bet. If you want steady growth, stocks are the clear winner. And if you’re willing to take a high-risk, high- برابر

如果您正在寻找稳定性，黄金是一个安全的选择。如果您想要稳定的增长，股票是明显的赢家。如果您愿意参加高风险的高风险