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ASX 200 futures -0.6% on 13 November as gold falls 3% and Nvidia's CEO resigns

December gold -3.06% to US$3,877.90; US 10-year 5.10%; NVDA.US -4.34% after Huang resigns; Brent +3.54%; AUD at 0.6809.

Bearish3 min readBy Swingfolio Research

At a glance

ASX 2009,147-0.07%
S&P 5007,592-0.35%
NASDAQ25,366-0.39%
Dow52,297-0.36%
VIX18.7+6.92%
Gold3,878-3.06%
Brent96.04+3.54%
AUD/USD0.6809-0.63%
ASX SPI futures9,129-0.58%

ASX 200 futures -0.6% on 13 November as gold falls 3% and Nvidia's CEO resigns

Sentiment: bearish ASX 200 futures: -0.6%

ASX 200 futures fell 53 points, or 0.58%, to 9,129 at 7:40am AEDT on 13 November 2026, per Capital Brief, after December gold dropped 3.06% to US$3,877.90/oz and the US 10-year yield rose 10.5 basis points to 5.10%. NVDA.US fell 4.34% to US$166.19 after Jensen Huang resigned as chief executive, with finance chief Colette Kress named interim CEO. AUD/USD fell 0.63% to 0.6809, a nine-month low per Capital Brief, as futures fully priced a December Fed rate hike.

Overnight drivers

  • Gold: December gold fell US$122.60 to US$3,877.90/oz (-3.06%) and silver 4.02% to US$49.91/oz, while the US dollar index rose 0.26% to 103.18. NEM.US lost 4.92%. The All Ords Gold index fell 3.59% on Thursday with gold near US$3,983/oz at the ASX close; gold is US$105.60 lower since then.
  • Nvidia: Huang resigned after reports of two alleged extramarital affairs, one with a woman US intelligence reportedly suspects of being a Chinese spy, per ABC. Shares fell as much as 14% before closing 4.34% lower, per Capital Brief, and SMCI.US lost 11.30%. AMD.US gained 5.86% and AVGO.US 5.54%, so the Philadelphia Semiconductor index fell only 0.54%.
  • Rates: The US 10-year yield rose to 5.10% from 4.998%. CME FedWatch shows a December hike of at least 25 basis points fully priced, with a 15% chance of 50 basis points, after hotter-than-expected US consumer inflation data earlier this week, per Capital Brief. XLF.US fell 0.72%.
  • Oil: January Brent rose 3.54% to US$96.04 and December WTI 2.81% to US$88.96 after President Trump wrote that the US did not need a deal with Iran, per Capital Brief. XLE.US gained 1.51%; WDS.AU closed Thursday at $30.91 and STO.AU at $8.80 (+1.15%).

Overnight Wall Street

  • S&P 500: 7,592.40 (-0.35%)
  • Nasdaq: 25,366.09 (-0.39%)
  • Dow: 52,297.09 (-0.36%)
  • VIX: 18.70 (+6.92%)

The S&P 500 fell 26.98 points on Thursday 12 November 2026 while Energy rose about 2%, the strongest of its 11 sectors, per Capital Brief. The Russell 2000 lost 1.66% to 2,799.06, a wider fall than the large-cap indices as yields rose. The VIX added 1.21 points to 18.70.

Europe closed higher: the STOXX 600 rose 0.14%, the DAX 0.41% and the FTSE 100 0.25%. S&P 500 futures were 0.32% and Nasdaq 100 futures 0.27% below their prior settlement after the US close.

Commodities and FX (AU-relevant)

  • Gold (December): US$3,877.90/oz (-3.06%)
  • Brent (January): US$96.04 (+3.54%)
  • Iron ore 62%: US$90.40/t (-2.0%)
  • AUD/USD: 0.6809 (-0.63%)

BHP.US fell 1.89% and RIO.US 1.99% in New York as iron ore lost 2% and copper 1.64% to US$6.187/lb. BHP.AU closed Thursday at $59.61 (-1.29%), RIO.AU at $150.57 (-2.14%) and FMG.AU at $15.05 (-2.40%). Materials fell 2.08% on Thursday, worth about 44 basis points off the ASX 200. AUD/USD at 0.6809 raises the Australian-dollar value of US-dollar revenue for CSL.AU, which closed Thursday at $204.54 (+1.42%).

Key themes for the ASX open

  • Gold miners: NEM.AU closed Thursday at $171.70 (-2.80%), NST.AU at $26.13 (-2.24%) and EVN.AU at $13.41 (-4.21%), all priced before the overnight fall of US$105.60/oz.
  • Banks: NAB.AU and CBA.AU chief executives appear before the House Economics Committee today, after ANZ and Westpac on Thursday, per ABC. CBA.AU rose 2.89% to $171.76 on Thursday, the same day it acknowledged ASIC proceedings over fees charged to customers.
  • Lithium: PLS.AU fell 8.06% to $2.85 and MIN.AU 5.23% to $47.25 on Thursday. MIN.AU also mines iron ore, which fell 2% overnight.
  • Technology: XRO.AU closed Thursday at $75.17 (+6.08%) after lifting FY27 revenue guidance; WTC.AU closed at $46.59 (-1.17%). The Nasdaq fell 0.39% overnight while NVDA.US lost 4.34%.

Economic calendar today

  • No scheduled Australian data releases.
  • All day: House Economics Committee hearings with NAB and CBA chief executives.
  • 12:30am AEDT Saturday: US Producer Price Index.

What to watch

  • Futures at -0.58% point to about 9,094 for the ASX 200, below Thursday's 9,100.5 session low, after a 6.4-point fall on Thursday when decliners led advancers 126 to 88.
  • Financials rose 1.10% on Thursday, worth about 35 basis points, before the US 10-year reached 5.10% and XLF.US fell 0.72%.
  • The VIX at 18.70 is 1.21 points above Wednesday's close, while the ASX 200 VIX closed Thursday at 10.72 after three straight falls.

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