Commodities digesting Yellen - ANZ

Analysts at ANZ explained that the commodities were volatile, as investors digested Yellen’s speech at the Jackson Hole symposium. 

Key Quotes:

"Oil prices rose on reports that Yemen missiles had hit Saudi Arabian oil facilities. Prices then retreated once it was discovered facilities were safe. 

Gold also surged higher in early trade, but pared those gains late in the day. Industrial metals struggled to gain any traction, with only zinc and lead ending the day higher. 

Data from the International Lead and Zinc Study Group showed that the zinc market remained in a large deficit. Iron ore tumbled over 3% as weak steel prices weighed on the market."