Comment Text:
10-005
COMMENT
CL-02424
From:
Sent:
To:
Subject:
secretary
Wednesday, April 7, 2010 11:08 AM
Metals Hearing
FW: - Establishing Position Limits for Precious Metals
From:
George Gordon-Smith [mailto:[email protected]]
Sent-"
Wednesday, April 07, 2010 7:57 AM
To;
secretary
Subject: Re: - Establishing Position Limits for Precious Metals
Dear Sir or Madam,
Further to the Public Meeting held by the CFTC
on 25
th
March 2OLO, ! understand that the Commission is
now actively seeking comments from the public concerning the above matter.
Firstly, ! would like to thank you and the Commission for the opportunity to comment. Such an opportunity
does much to positively reinforce the international reputation of the Commission as an arbiter of prudent
and equitable business practice.
! would request that the Commission takes early steps in respect of the following: -
1. To establish a speculative position limit in COMEX silver of no more than 15oo contracts.
2. To restrict any hedging exemptions from the above limits to those who are truly legitimate
hedgers.
3. Take active measures to prevent the levels of concentration in COMEX silver futures that have
been experienced over the past few years on the short side of the market.
I thank you for your kind attention to and consideration of the above,
Yours sincerely,
George Gordon-Smith M.B.E.
