Comment Text:
10-005
COMMENT
CL-00114
From:
Sent:
To:
Subject:
[email protected]
Sunday, April 25, 2010 7:25 PM
Metals Hearing
Position Limits
Gentlemen:
Thank you for the opportunity to comment on the issue of position limits for precious metals.
I am very concerned about the undue influence exerted on silver prices by the extremely large
positions carried by a handful of players.
Please establish a speculative position limit in COMEX silver of no more than 1,500 contracts,
and please restrict any hedging exemptions from those limits to legitimate hedgers. The levels
of concentration in COMEX silver futures by this small group, especially on the short side,
have grown out of proportion to legitimate purposes in recent years.
Very truly yours,
Thomas J. Lynch Jr.
182 Luxury Lane
Colorado Springs, CO 80921
