The jewellers association in Pakistan has announced the latest gold rates for January 16, indicating an increase of Rs450 per tola or 11 grams in the price.

After the price change, one tola of gold in the country will now sell for Rs217,900.

All Sindh Sarafa Jewellers Association said on Tuesday that the rate of 10 grams of gold increased by Rs386 and now the price stands at Rs186,814.

In the international market, the price of gold rose by $7 to reach $2,055 per ounce.