Jin10 Data Summary: Gold Plunges, Nvidia Closes Down Over 4%

on November 13, according to Jin10 data, its compilation of major overnight and early morning headlines shows that spot gold plunged 3% to a new low since last October, while spot silver fell below $50/oz; the yen fell below the 160 threshold early in the morning before rebounding 70 pips in the short term, heightening risks of Bank of Japan intervention. NVIDIA’s market capitalization dropped below $4 trillion, closing down more than 4%, as U.S. media reported it is facing an antitrust investigation by the U.S. Department of Justice.

Domestically, Li Qiang chaired the 22nd special study session of the State Council executive meeting, proposing to expand the coverage of enterprise annuities and enhance the long-term sustainability of the social security fund; domestic refined oil prices saw substantial cuts, saving consumers approximately 25 yuan per full tank fill-up; the Ministry of Commerce stated that China and the United States are maintaining close communications on tariff reductions, trade, and investment. Internationally, UK media reported that the European Union and the United Kingdom will postpone imposing a 10% tariff on electric vehicles; the Houthis claimed they struck Saudi Aramco and attacked pumping stations along the East-West Pipeline.