Comment Text:
10-005
COMMENT
CL-02148
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Sent:
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Subject:
Ondic, Kevin
Thursday, April 8, 2010 12:02 AM
Metals Hearing
Precious Metals 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 gold and silver of no more than 1500 contracts.
Please restrict any hedging exemptions from those limits to legitimate hedgers (ie, metals
producers and others which have an independently verified substantial physical interest). Please
stop the levels of concentration in COMEX gold and silver futures that have been experienced over
the past few years on the short side of the market. Failure to do so puts the integrity of our
markets and ultimately industry dependant on these commodities extreme risk.
Sincerely,
Kevin Ondic
Calgary, AB
Canada
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