However, the 96-year-old monarch, a huge horse-racing fan and owner of many thoroughbreds, will skip the 243rd running of the Derby because of "episodic mobility problems" which also forced her to miss a thanksgiving service in her honour on Friday.

Her daughter Princess Anne, who competed in the three-day equestrian event in the 1976 Olympics, is expected to stand in for her mother.

Later on Saturday, performers from around the world will entertain some 22,000 people at the "Platinum Party at the Palace", while Elizabeth's son and heir Prince Charles and grandson Prince William will speak.

The queen herself had not been expected to attend.

The concert will also feature a specially recorded performance by Elton John, a performance from rock band Queen + Adam Lambert, and conclude with Diana Ross' first live appearance in Britain in 15 years.

Queen guitarist Brian May, who played the national anthem from the roof of the palace at a concert for Elizabeth's golden jubilee in 2002, said the band was happy to have been invited again.

"Then there was a moment when I wondered ... after Buckingham Palace roof where can you go? Well ... you will see," he said.