Comment Text:
10-005
CONMENT
CL-02366
From:
Sent:
To:
Subject:
secretary
Wednesday, April 7, 2010 12:22 PM
Metals Hearing
FW: Metals comment
From:
Robert Froelich [mailto:[email protected]]
Sent: Wednesday, April 07, 2010 11:27 AM
To: secretary
Subject: Metals comment
Dear Sir;
Thank for the most instructive open hearing of March 25
th
and the opportunity to comment on the
issue of position limits for precious metals. The establishment of effective position limits in the COMEX
metals appears to be essential for an orderly open market to be able to set rational prices, based upon
supply/demand data.
Specifically, for silver a limit of no more than 1000 to 1500 contracts would be in line with the limits set
in other commodities. Please restrict any hedging exemptions from the limits to either producers or
industrial users of the metal. Setting such rational limits in silver will stop the levels of concentration
of shorts in COMEX silver futures.
Sincerely,
Robert Froelich
