Font Size: AAA // Print // Bookmark

Comment for Sunshine Act Sunshine Act Meeting: March 25, 2010

  • From: Heinz Lycklama
    Organization(s):

    Comment No: 22530
    Date: 4/7/2010

    Comment Text:

    10-005
    COMMENT
    CL-02231
    From:
    Sent:
    To:
    Cc:
    Subject:
    Heinz Lycklama
    Wednesday, April 7, 2010 5:52 PM
    Gensler, Gary ; Metals Hearing

    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

    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