Comment Text:
10-005
COMMENT
CL-00510
From:
Sent:
To:
Subject:
Robert Gardner
Saturday, April 17, 2010 1 :
10
PM
Metals Hearing
Comments On Hearings
Secretary of the Commission,
Dear Sir;
Thank you for the opportunity to comment on the issue of position limits for precious metals. 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 on the short side of the market. JP Morgan, in
particular, has been permitted to suppress silver prices whenever they choose, resulting in a very unstable silver
market. Both investors and mining operators have suffered significant losses as a result of JPM's ability to
manipulate the silver market at any time. I believe that we should have free markets based on normal supply and
demand conditions.
Sincerely,
Robert F. Gardner
