Comment Text:
10-005
COMMENT
CL-01401
From:
Sent:
To:
Subject:
Sirrah Lore
Friday, April 9, 2010 8:07 PM
Metals Hearing
Silver Position Limits
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals. I am a
Forex Trader living in Australia. I specifically trade Silver and Gold vs the USD. Numerous times
during the last year, both Silver and Gold inexplicably dropped in value causing me to loose a large
sum of money. I was shocked to learn that this was carried out intentionally! This is unfair to allow
a few banks to control the market, allowing them to reap large profits at our loss.
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.
Sincerely,
Sirrah Lore
Tyalgum, NSW, Australia
