Over these last chapters the prophetic focus will be on the gentile nations, the Jewish nation, and the coming Messiah. Zechariah 9 begins with a burden against several nations, the land of Hadrach, the Syrian capital of Damascus, Hamath, Tyre and Sidon (V1-8) then shifts to the coming King, the Messiah (V9).
This Scripture was fulfilled at the triumphal entrance into Jerusalem by Jesus (Matthew 21:4-5). Verse 10 speaks of Christ’s second coming when He will stop a war against Israel and bring peace to the earth. Zechariah foretold how God would save His people (V16), restore them (Zechariah 10), strengthen them, bring them back, and have mercy as though He had not cast them aside (V6). However, before this takes place God has to deal with their unfaithfulness (V4).
There is some conjecture as to who the three shepherds of verse 8 are. It may be speaking of prophets, priests, and kings, those charged with leading the people, but were false leaders. Even Zechariah wasn’t willing to serve such petulant children and asked for his wages (V12) and was given the sum that was paid to Judas for betraying Jesus. And God said to him, “Throw it to the potter”.
Judas did this after realizing he had betrayed an innocent man. The priests in Jesus’ day purchased a field with it for burying the poor, the field where Judas hung himself. These verses vividly portray the rejection and betrayal of Jesus.