Queen Elizabeth II's busy week continued with opening day of the Royal Ascot on Tuesday where the 88-year-old monarch was surrounded by her children and grandchildren for the racing festivities.

Despite participating in both the Trooping of the Colour and Order of the Garter ceremonies over the last few days, the Queen appeared in good spirits, waving to the cheering crowds as she was driven around the racetrack.

Wearing a light blue suit by Stewart Parvin and hat by Rachel Trevor Morgan, the Queen was joined in her carriage by husband Prince Philip, Duke of Edinburgh, son Prince Andrew and grandson Prince Harry.

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From left: Harry, Andrew, the Queen and Prince Philip

Noticeably absent were the Duke and Duchess of Cambridge, Prince William and Kate Middleton, who had attended the week's earlier events.

Arriving in a second carriage were the Prince of Wales, his wife Camilla, Duchess of Cornwall and the Queen's granddaughters, Princesses Beatrice and Eugenie.

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Charles and Camilla

Also spotted at the track were the Queen's daughter Princess Anne, granddaughter Zara Tindall and daughter-in-law Sophie, Countess of Wessex.

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Beatrice and Eugenie

Although none of the Queen's horses were racing on opening day, the equestrian appeared enthralled by the action nonetheless. Later this week, her Gold Cup-winning horse will attempt to defend its crown, which international racing manager Nick Smith says is a safe bet.

"Oh, I think she absolutely has a chance this year — without any question," he tells The Daily Mail. "She has a fighting chance of winning the Gold Cup for the second year running with Estimate but she will also have a couple of other runners."

The Queen's hobby of horse breeding extends back more than 60 years when she was left a handful of horses by her father, King George VI.