Gold rose in Europe on Thursday, supported by interest in the metal as a haven from risk and a slightly weaker dollar, with traders eyeing interest rate decisions due from the Bank of England and European Central Bank. Spot gold was quoted at $913.10/915.10 an ounce at 1058 GMT, up from $904.70 late in New York on Wednesday. "The dollar gave up some of its gains this morning," said VTB Capital analyst Andrey Kryuchenkov. "Everyone is waiting to see what will happen with the ECB rate decision, and the BoE." He said gold had "good potential" to break higher. The euro edged up against the dollar in nervous trade as investors stayed on the sidelines ahead of the ECB's rate decision. [ID:nL5639752] The ECB is widely expected to keep rates on hold after four months of cuts, but the markets are looking for signs of further steps it may take to shore up the euro zone economy. [ID:nL5577863] The BoE looked set to cut rates by a further 50 basis points to a new record low [ID:nL4635617]. Interest in gold as safe store of value also fuelled buying among risk-averse investors. Interest in physical bullion in the form of coins and bars and investment products such as gold-backed exchange-traded funds has soared as fears over the outlook for the global economy boosted volatility other asset prices. Investors also fear the large amount of government debt poured into the banking sector will fuel inflation. "The fact that gold as an asset class has more trust in it than a lot of other financial products out there at the moment means people are continuing to push money in there," said Commerzbank trader Rory McVeigh. "There has been steady buying of small investment-type physical gold, particularly in Europe, and exchange-traded funds."

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