Comment Text:
10-005
COMMENT
CL-01164
From:
Sent:
To:
Subject:
Jim Showker
Saturday, April 10, 2010 1:27 PM
Metals Hearing
comments on silver/gold position limits
Dear Sirs;
Thank 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 1000 contracts and a similar position limit
in gold-related to the size of the market. Please restrict any hedging
exemptions from those limits to legitimate hedgers. A legitimate hedger
would be a company that deals in PHYSICAL METAL, either a producer, end
user, or wholesaler, ie. a company that actually moves physical metal in
and out of its physical possession---NOT speculators.
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.
Sincerely,
James S. Showker
1281 Dalton Dr
Eugene, Or 97404
