Comment Text:
10-005
COMMENT
CL-00090
From:
Sent:
To:
Subject:
Doug Gilmartin
Monday, April 26, 2010 4:00 AM
Metals Hearing
Comment on position limits for precious metals
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals. I am
currently a holder of futures contracts on Silver, and am disturbed by the lack of appropriate position
limits and the resulting ability of financials firms holding excessively large positions (i.e. JP Morgan) to
potentially manipulate the price of silver. Please establish a speculative position limit in COMEX silver
of no more than 1500 contracts. Please restrict any hedging exemptions from those limits to
legitimate hedgers. Please stop the levels of concentration in COMEX silver futures that have been
experienced over the past few years.
Sincerely,
Doug Gilmartin
