Gold Triples, Bitcoin Gains, Nifty Trails FD: What Five-Year Scorecard Of Top Assets Shows

Asset diversification is seen at the core of smart investment strategies, and more so in a world marked by external headwinds. Over the past five years, the markets have witnessed various crises, ranging from the Covid-19 pandemic to the Russia-Ukraine conflict, and the ongoing war in the Middle East. In this turbulent period, investors want to cautiously weigh where their savings are parked, and what returns they have yielded.

During this period, what has shone the brightest is gold, the traditional safe-haven asset, whereas Bitcoin has also delivered solid gains for Indian investors, considering the rupee depreciation effect. Equity investments, however, stay under a cloud. Sans dividends, the returns lag behind some of the benchmark five-year fixed deposit schemes.

Consider the example of an investor who pumped Rs 1 lakh into the various asset classes exactly five years ago. That same amount, in the form of gold, is now valued at Rs 2.95 lakh, resulting in nearly triple the gains. The same in the Nifty 50 would be worth about Rs 1.25 lakh. That is less than the roughly Rs 1.31 lakh a five-year State Bank of India fixed deposit would have returned.

The comparison below runs from Oct. 27, 2021 to Oct. 27, 2026, and tracks four choices for investors: the Nifty 50, 24-carat gold, Bitcoin and SBI's five-year fixed deposit.

Five-year scorecard: Gold leads, Nifty trails FD

Oct. 27, 2021 to Oct. 27, 2026; returns before tax

FD rows show the value of a Rs 1 lakh deposit, compounded quarterly. Gold and Bitcoin 2026 figures are intraday. Bitcoin converted from US dollars at the rupee's closing rate on each date.

Source: NSE Indices, IBJA, Binance, SBI, NDTV Profit calculations

Gold Runs Away

Twenty-four-carat gold cost Rs 47,817 per 10 grams on Oct. 27, 2021, according to the India Bullion and Jewellers Association (IBJA). On Tuesday morning, IBJA quoted it at Rs 1,41,082. That is a gain of 195%, or about 24% a year compounded.

Gold's historic rally was driven by various factors over the past five years, including accelerated buying from central banks, geopolitical conflicts and multi-year rate easing cycles that made the yellow metal a safe hedge against inflation.

The rally, however, lost steam earlier in 2026, after gold hit a peak of about $5,600 an ounce in the international market, and Rs 1.81 lakh per 10 gram on India's Multi Commodity Exchange (MCX) in January-end.

Since then, the metal has shed about 30%, and is presently hovering between $4,000 and 4,100 an ounce in the US spot market, and Rs 1.4 lakh and Rs 1.5 lakh on the MCX.

Bitcoin Rides Weak Rupee

Bitcoin closed at about $58,400 on Oct. 27, 2021 and traded near $80,400 on Tuesday. In dollar terms, that is a gain of 38%, or 6.6% a year.

Indian investors did better because the rupee weakened. It closed at 75.03 to the dollar on Oct. 27, 2021 and at 95.12 on Tuesday, a fall of about 27%. In rupee terms, Bitcoin rose from about Rs 43.8 lakh to Rs 76.5 lakh, a gain of 75%, or 11.8% a year.

The ride was rough. Bitcoin ended 2022 near $16,500 and touched about $126,000 in October 2025. It is now some 36% below that peak.

Nifty's Lost Five Years

The Nifty 50 closed at 18,210.95 on Oct. 27, 2021 and at 22,749.75 on Tuesday. That is a gain of 25%, or 4.6% a year, before dividends.

The index went nowhere for two years, ending 2022 at 18,105.30. It then climbed to a record close of 26,328.55 on Jan. 2, 2026. Since then it has lost 13.6%, and it is down about 13% so far in 2026.

Dividends narrow the gap only slightly. The Nifty 50 Total Return Index, which assumes dividends are reinvested, gained 32.4% over five years, or 5.8% a year.

FDs Beat The Index

In October 2021, SBI paid 5.40% a year on deposits of five to ten years, and 6.20% to senior citizens. Compounded quarterly, Rs 1 lakh locked in at those rates would now be worth about Rs 1.31 lakh, or Rs 1.36 lakh for a senior citizen.

That beats the Nifty's price return, with no swings along the way. The comparison is before tax, however. FD interest is taxed at the investor's slab rate, which narrows the lead for those in higher brackets.

SBI now pays 6.05% on five-to-ten-year deposits and 7.05% to senior citizens, rates in force since July 2025.

What The Numbers Say

The five-year winner was the asset few people treat as a growth investment. Gold rewarded investors more than four times as much as the Nifty, while a fixed deposit kept pace with equities at a fraction of the risk.

The ranking depends heavily on the window chosen. A year ago, before the Nifty's slide and Bitcoin's drop from its high, both looked far stronger. Also, investors should note that past returns are no guarantee of future performance.