Comment Text:
10-005
COMMENT
CL-01228
From:
Sent:
To:
Subject:
bill drake
Saturday, April l 0, 20 l 0 11 :
19 AM
Metals Hearing
comments on precious metals position limits
Dear Chairman Gensler and Commission Members;
Thank you for the opportunity to submit my comments on the CFTC's consideration of position
limits for precious metals.
I urge the CFTC establish a speculative position limit in COMEX silver of no more than 1500
contracts, and to restrict any future hedging exemptions from those limits to legitimate hedgers,
and to make any such exemptions fully transparent to the public.
I most urgently request that the CFTC regulate against 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,
Bill Drake
