Comment Text:
10-005
COMMENT
CL-02086
From:
Sent:
To:
Subject:
secretary
Thursday, April 8, 2010 7:48 AM
Metals Hearing
FW: Position Limits for Precious Metals
From:
Heinz Lycklama [mailto:[email protected]]
Sent:
Wednesday, April 07, 2010 5:52 PM
To:
Gensler, Gary; Metals Hearing
Cc:
Metals Hearing; Shilts, Richard A.; Berkovitz, Dan M; O'Malia, Scott; Gensler, Gary; Eric Thorson; Chilton,
Bart; Ryall, Christine; Dean Payton; Jamie Dimon; Sommers, Jill; [email protected]; Dunn, Michael; Stowe,
Natise L.; R Schaeffer; Lavik, A. Roy; secretary; Obie, Stephen J.; Walter Lukken; Maria Cantwell; Rick Larsen;
Patty Murray; Patty Murray
Subject:
Position Limits for Precious Metals
Dear Sir/Madam,
The CFTC held a hearing on position limits for precious metals on March 25, 2010.
It was very clear from the evidence presented at this hearing that the levels of
concentration in COMEX silver and gold futures on the short side of the market
have contributed to the unnatural wild swings in the prices of the gold and silver
metals, especially on the downside. It is time for the CFTC to establish a
speculative position limit in COMEX silver and in COMEX gold at much lower
numbers of contracts than is now set (LONG and SHORT). This must be
accompanied by restrictions of hedging exemptions from those limits to
legitimate hedgers. Please stop the levels of concentration in COMEX
silver futures and gold futures that have been experienced over the past
few years on the short side of the market.
Thank you for the opportunity to comment on the issue of
position limits for precious metals.
Heinz
Heinz Lycklama
17818 Oxford Dr.
Arlington, WA 98223
Ph/Fx: 360-403-7445/6
Cell:
425-501-5075
Email: [email protected]
URL:
www.osta.com
