Comment Text:
10-005
COMMENT
CL-02393
From:
Sent:
To:
Subject:
secretary
Wednesday, April 7, 2010 11:13 AM
Metals Hearing
FW: Comment on Position Limits and Hedging Exemptions
From: Roger Berry [mailto:[email protected]]
Sent-" Wednesday, April 07, 2010 10:19 AM
To; secretary
Subject-" Comment on Position Limits and Hedging Exemptions
Dear Sir;
I am most appreciative of the Commodities Futures Trading Commission (CFTC) taking action to assess the
facts surrounding commodity speculation in precious metals, especially silver. ! am also appreciative of the
opportunity the CFTC has provided the public to comment on the position limits for precious metals. So, !
am accepting your invitation to comment.
I believe a speculative position limit in COMEX silver is necessary and appropriate as with other
commodities and should be no more than 15oo contracts. In addition, there should be strict controls and
restrictions on hedging exemptions from the position limits. The limit should apply to everyone except
legitimate hedgers, which should not include brokers, distributors, etc.
In my view it is imperative that the level of "short side" concentration in Comex silver futures we have been
experiencing for years be stopped as soon as possible. Free commodity markets must be appropriately
regulated especially in precious metals with limited liquid supply.
Sincerely,
Roger Berry
