Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Saudi Arabia’s state media confirmed speculative reports that pushed the price of oil higher last night that Saudi Arabia’s air defense forces intercepted three ballistic missiles fired at Saudi capital Riyadh and two other key cities. According to state media and the Saudi-led coalition fighting the Iran-aligned Houthis in Yemen, three missiles were shot down above the capital and the southern cities of Jizan and Najran.
Last night Houthi rebels claimed that they fired three missiles towards Saudi Arabia, targeting defense ministry in Riyadh and a Saudi Aramco distribution facility in Najran. This is the fourth time in five months that missiles have flown over the Saudi capital as they were intercepted. Even a man was killed last month by falling debris caused by the interception. The Saudi-led coalition has been fighting Iran-backed Houthi rebels in Yemen’s civil war that is raging in its third year.
In a separate incident, two Houthi drones were shot down in the city of Jizan and Abha, which were reportedly targeting the 400,000 barrels per day refinery that was being built by Saudi Aramco and is expected for completion by 2019.
Brent spiked last night on the news and reached the highest level November 2014. Brent crude is currently trading at $72.2 per barrel and WTI at $5.1 per barrel discount to Brent.
