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LONDON - Gold rose above $955 (U.S.) an ounce to a six-week high in Europe on Thursday as the dollar weakened in response to an uptick in risk appetite.

Spot gold was bid at $954.60 an ounce at 0937 GMT, against $950.40 an ounce late in New York on Wednesday. Earlier it hit a peak of $956.50 an ounce, its highest since June 12.

Buying in the world's biggest bullion market is unlikely to pick up until the end of August, traders said, when dealers will replenish stock for the festival season.



Among other precious metals, silver was at $13.81 an ounce against $13.68, platinum was at $1,174.50 an ounce against $1,172, and palladium was at $255.50 against $252.50.


Lonmin, the world's number three platinum producer, said its full-year sales will miss its target, but said it was on track to deliver lower costs. Third quarter production eased 1 per cent to 178,494 ounces.

In South Africa, source of four out of five ounces of the world's platinum and the third largest gold producer, protests over jobs and services spread on Wednesday, with police firing tear gas and rubber bullets at protesters.

Trade unions have been threatening industrial action at platinum and gold producers in a bid to improve working conditions.