Gold rises

Bengaluru : Gold edged up in early Asian trade on Friday, after dropping below its recent trading range to hit a more than four-month low overnight.

Spot gold was up nearly 0.2 percent at $1,248.29 an ounce by 0102 GMT, after hitting its lowest since July 26 at $1,243.71 on Thursday.

U.S. gold futures were 0.2 percent lower at $1,250.10. The dollar inched higher on Friday, on track for a weekly gain against a basket of currencies, as the passage of a bill to temporarily extend United States government funding raised investors´ optimism that a tax reform bill would also pass.

Two U.S. B-1B heavy bombers joined large-scale combat drills over South Korea on Thursday amid warnings from North Korea that the exercises and U.S. threats have made the outbreak of war "an established fact."