Comment Text:
10-005
COMMENT
CL-02134
From:
Sent:
To:
Subject:
Stoneeh
Thursday, April 8, 2010 2:03 AM
Metals Hearing
Metals Hearing - Position limits
Dear Sir,
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 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.
As you may have noted, the markets are basically paper hedging paper and if only as single digit
percent of clients take physical delivery, it would crash metals markets worldwide. This can not be
in the best interest of anyone in the world.
Sincerely,
Markus S.
