April 12 (Reuters) - Safe-haven gold prices hit an all-time high on Friday on track for a fourth straight weekly gain as geopolitical risks in the Middle East and economic concerns about China spurred robust demand.
Spot gold was up 0.9% at $2,395.66 per ounce as of 1100 GMT after hitting a record high of $2,400.35. Prices were up nearly 3% for the week.
U.S. gold futures gained 1.8% to $2,414.30.
There is potential for more upside in prices amid central bank purchases and as demand for safe-haven assets rise with growing anxiety among investors about geopolitical conflicts escalating, said Ricardo Evangelista, senior analyst at ActivTrades.
Concern about "the Chinese economy feeds into worries about growth of the global economy and this also compounds the market sentiment of seeking safe-haven assets," he added.
Iran has signalled to Washington that it will respond to Israel's attack on its Syrian embassy in a way that aims to avoid major escalation, Iranian sources said.
Meanwhile, Vietnam's central bank said it will increase gold bar supplies to stabilise the market, while China's central bank added more gold to its reserves in March.
Investors also kept a tab on data that showed China's March exports and imports shrank, highlighting the tough task facing policymakers as they try to bolster a shaky economic recovery.
Elsewhere, Fed's Boston President Susan Collins said in an interview with Reuters that she is eyeing a couple of interest rate cuts this year.
Spot silver rose 2% to $29.04 per ounce, hitting its highest levels since early 2021.
Gold's strength appears to have filtered through to support silver prices, and industrial production figures released on Tuesday gave a further signal on industrial demand for silver, Frank Watson, market analyst at Kinesis Money, wrote in a note.
Platinum rose 1.7% to $996.36 and palladium firmed 0.5% to $1,051.50. All three headed for weekly gains.
Reporting by Ashitha Shivaprasad in Bengaluru; editing by Vijay Kishore and Jason Neely
