Comment Text:
10-005
COMMENT
CL-01473
From:
Sent:
To:
Subject:
Aven Peran
Friday, April 9, 2010 2:43 PM
Metals Hearing
Metals Position Limits
Dear Commissioners;
Thank for once again allowing the public to comment on the issue of position limits for precious metals. I strongly
feel that a few select entities have and are controlling the Silver and Gold markets via their speculative COMEX
contracts. I believe that these entities are in no way legitimate hedgers, but are manipulating these markets by
pretending to be such.
Please establish a speculative position limit in COMEX silver of no more than 1500 contracts both for entities long
or short the market. Understandably certain legitimate hedgers should be allowed exemptions. But please do not
allow any entity that has no legitimate hedging reasons to pretend otherwise. 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.
From a personal standpoint, the manipulations done by these entities, have personally caused me untold
loss of wealth over the last 4-5 years by forcing me to sell gold and silver at artificially depressed prices,
to say nothing about the values lost on my shares in select mining companies. I invested my money with
the thought that markets were fair, and now find out that for years a few entities have been making a
mess of things simply by controlling the COMEX prices. This has got to end and the people who did
this punished for their crimes.
Sincerely,
Aven Peran
