LONDON: Gold edged off 3-1/2 week highs as US equities opened higher and the dollar pared losses, though concerns over the implications of US air strikes on Iraq supported the market above $1,300 an ounce.

Spot gold hit its highest since July 14 at $1,322.60 an ounce but retreated to $1,311.50 by 1426 GMT, down 0.1 percent. The metal is up 1.4 percent this week, its first increase in four weeks and the highest weekly gain in seven.

US gold futures for December delivery were up $1.30 at $1,318.80 an ounce.

Among other precious metals, silver rose 0.2 percent to $19.94 an ounce. Platinum was up 0.3 percent to $1,476.10 an ounce, while palladium gained 1.1 percent to $859.75 an ounce.