Huang's Resignation at Nvidia: Gold Plummets Below $3,900, Brent Surges 3.8% to $96, and Bitcoin Breaks $70,000

On Friday, November 13, 2026 (data as of 12:45 Almaty time / UTC+5), markets are experiencing several reversals: Jensen Huang was removed as CEO of Nvidia, with the stock down 4.3%. Gold plunged to an annual low of $3,852, breaking below $3,900 for the first time this year. Brent crude soared nearly 4% to $96.12 following Trump's statement that a deal with Iran is no longer needed. The yield on 10-year U.S. Treasury bonds rose above 5% for the first time since October 22, the dollar hit a 19-month high, and Bitcoin broke below $70,000. The main event of the day is the release of the U.S. Producer Price Index.

Stocks and Markets: Huang Removed as Nvidia CEO, STOXX 600 Hits Record

Resolution of a week-long story: The board of directors has removed Jensen Huang from his position as Nvidia CEO. To recap the timeline: an internal investigation due to his connection with the head of a Singaporean firm suspected of transferring chips to China, followed by a shareholder lawsuit, then an emergency board meeting. On Thursday, the stock fell 4.3%, partially recovering from intraday losses. Since early November, Nvidia has lost about a third of its value. The company’s earnings report is due November 17 — the first report without Huang and a key test for the entire AI sector.

Europe against the broader backdrop: The STOXX 600 hit a historic record, the DAX gained 0.4% to 26,772, and the FTSE 100 rose 0.25% to 10,863. The reason lies in index composition — the tech sector has a small share there, while banks and energy benefit from high rates and expensive oil.

Asian Index	Level	Change
Nikkei 225	61,216	+0.65%
Shanghai Composite	3,637	−0.50%
Nifty 50 (India)	25,139	−0.60%
KOSPI	5,298	−0.85%
Hang Seng	23,649	−1.50%

Hong Kong’s tech sector under pressure — reflecting Nvidia’s leadership change. Japan is up on a weak yen. U.S. morning futures are in the green: Nasdaq 100 +0.6%, S&P 500 +0.4%.

Macro and Fed: 10-Year Yields Above 5%, Yen Breaks 160

Sell-off across the curve: October inflation came in above forecast — headline +0.4% m/m, core +0.3%. Yields rose across all maturities, most notably in the mid-curve: 5- and 7-year yields gained 15 basis points each. The market prices in a rate hike on December 8–9 with about 85% probability; a 50 basis point move is seriously discussed.

Instrument / Asset	Current Level	Change / Status
UST 10-Year	above 5.00%	First time since October 22
UST 30-Year	5.449%	+9 bps
UST 5 and 7 Years	4.97% / 5.04%	+15 bps each
Dollar (Index)	19-month high	Strengthening continues
USD/JPY	160.10	Level 160 breached
EUR/USD	1.1059	Continuing decline
Fed Rate (Dec 8–9)	~85% probability	50 bps hike under discussion

Yen in intervention zone: The 160 level is historically where the Bank of Japan has intervened. Warnings of possible intervention are already being voiced. Short yen positions at these levels carry increased risk: reversals during intervention happen instantly and without warning.

Commodities and Crypto: Gold at Annual Low, Brent Surges 3.8%

Gold crash: A 3.4% intraday drop — one of the largest this year. Thursday closed at $3,877.41 (−2.76%), with a daily low of $3,852.27 — near the yearly bottom. Two factors triggered this simultaneously: yields above 5% raise the opportunity cost of holding gold, while expensive oil fuels inflation expectations and thus interest rates.

Technical picture for gold: The October low of $3,870.10 has been broken — the downtrend is formally confirmed. Support levels: $3,850 (0.786 Fibonacci level), then $3,800, and if broken — the $3,550 zone. Resistance: $3,930, with a rebound above that at $3,950–3,970, then key $4,000. As long as the price stays below $3,930, sellers have the advantage.

Oil reversal: Trump stated that a deal with Iran is no longer needed — this dashed hopes for a diplomatic resolution, which had caused oil to lose 13% the previous week. Additional supply pressure comes from Houthi attacks on Saudi energy facilities and shipping risks in the Strait of Hormuz. WTI trades near $88.60 (+2.64%). Over the week, Brent moved from $91.84 to $96.12.

Crypto breaks down: Bitcoin fell below $70,000 for the first time since August, Ethereum dropped to $1,930 (−5.6%), losing the $2,000 mark. Cryptocurrencies react more sharply to rate hikes than other assets: with 10-year yields above 5%, the risk-free alternative becomes too attractive.

Main Events Calendar (November 13, UTC+5)

Date / Time	Event / Release / Reports	Status / Importance
11/13 (18:30)	USA: Producer Price Index for October (forecast +0.4% m/m, core +0.3%)	Critical
11/13 (20:50)	Speech by Fed Governor Michelle Bowman	High
11/13 (during the day)	Earnings: MUFG, Sumitomo Mitsui, Mizuho, Japan Post Bank, Singtel, Generali	Medium
11/17 (Tuesday)	Nvidia Report — first after leadership change	AI sector test
12/8–9 (Tue–Wed)	FOMC Meeting — rate decision	Key

What Traders Should Watch:

• Producer prices at 18:30 — the last major inflation figure before the December meeting. September’s reading was +1.3% m/m; a sharp slowdown to +0.4% is expected. A result above forecast would shift a 50 basis point hike from discussion to baseline scenario and hit gold, crypto, and long bonds simultaneously.
• Oil acts as an inflation channel, not a commodity asset. Every dollar rise in Brent strengthens expectations of Fed tightening. While geopolitics pushes oil up, gold struggles to rise, although both are intuitively considered safe havens — this is the main trading divergence of the week.
• Yen at 160: a psychological and political level simultaneously. A high-risk zone for short positions, not a trend continuation.
• Gold below $3,930: sellers have the advantage. Nearest support at $3,850; breaking it opens the path to $3,800.
• YouTrade news windows: Strict prohibition on any trading operations and order modifications (including stop-losses and take-profits) during 18:27–18:33 (producer prices) and 20:47–20:53 (Bowman). Adjust your risks in advance.