The price of gold witnessed an increase of Rs300 per tola in Pakistan on Wednesday.

The per tola of precious yellow metal now costs Rs113,700, said Muhammad Arshad, the chairman of the All Pakistan Jewellers Manufacturers Association.

Likewise, the rate of 10 grams gold rose by Rs257 to Rs97,479.

In the International market, gold prices edged higher on Wednesday as a slight dip in U.S. bond yields provided support against growing expectations of quicker-than-expected U.S. interest rate hikes that also pushed the dollar to a multi-month high.

Spot gold rose 0.3% to $1,739.36 per ounce, recovering from a one-month low hit on Tuesday.

U.S. gold futures edged 0.2% higher to $1,741.00.