Gold rose more than 1 percent on Thursday as a break through the previous day's high sparked technical buying. Prices are also being supported by uncertainty ahead of a European Central Bank rates announcement at 1145 GMT and the result of U.S. bank stress tests later in the session, analysts said. Spot gold rose to a high of $922.30 and was bid at $918.05 an ounce at 1130 GMT, against $909.90 an ounce late in New York on Wednesday. Later on Thursday the results of stress tests on 19 U.S. banks will be released. Treasury Secretary Tim Geithner said on Wednesday none of the banks screened face insolvency, although reports suggest many need more capital. [ID:nL6943131] Standard Bank analyst Walter de Wet said hopes that the financial crisis is bottoming out may be turning attention away from gold as a safe haven, but boosting its appeal as an inflation hedge. "People who are bullish on gold would probably see this as a time to buy because, if indeed the recovery is close, we might see inflationary pressures creeping in sooner rather than later," he said.

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