*

Nvidia's ( NVDA ) forecast disappoints investors

*

Bullion up 4% so far this week

*

Fed to cut rates in Dec, smaller reductions in 2025 - poll

(Updates with U.S. hours)

By Sherin Elizabeth Varghese

Nov 21 (Reuters) - Spot gold rose for a fourth

consecutive session on Thursday, hitting an over one-week high

as safe-haven demand soared following AI bellwether Nvidia's ( NVDA )

lackluster revenue forecast and intensifying Russia-Ukraine

tensions.

Spot gold was up 0.6% at $2,666.00 per ounce by 10:27

a.m. EST (1527 GMT), while U.S. gold futures GCv1 rose 0.6% to

$2,668.60.

"It's really one main geopolitical factor that's at play

here in the gold market over the course of the last several days

- the increased tensions between Ukraine and Russia is probably

most notable," said David Meger, director of metals trading at

High Ridge Futures.

Investors flock to safe-haven assets during global crises,

and gold has soared to multiple record highs since the Middle

East conflict erupted in October last year.

With the United States vetoing a U.N. ceasefire resolution

in Gaza and renewed Russia-Ukraine tensions, geopolitical risk

premiums remain elevated, ensuring gold's enduring appeal.

The move to the downside in equities after Nvidia's ( NVDA ) earnings

has certainly supported precious metals from a safe-haven

perspective, Meger added.

Global stocks eased after AI bellwether Nvidia's ( NVDA ) revenue

growth forecast failed to excite investors.

Spot gold prices are up 4% so far this week, their best

performance since April, recovering from last week's sharpest

weekly drop in over three years. The decline in bullion was

driven by a soaring dollar, boosted by "Trump Trade" euphoria.

Brokerages expect President-elect Trump's proposed tariffs

to spur global market volatility and inflation, limiting central

banks' ability to ease monetary policy.

Meanwhile, a Reuters poll shows most economists anticipate a

Federal Reserve rate cut in December, with smaller reductions

projected for 2025.

Investor focus is also on several Fed officials scheduled to

speak this week. Expectations for a December rate cut have

diminished notably, with the likelihood now at 56%, a sharp drop

from 82.5% just a week earlier.

Spot silver was steady at $30.85 per ounce, platinum

was unchanged at $961.30 and palladium advanced

1.5% to $1,036.50.