Comment Text:
10-005
COMMENT
CL-02806
O. F, "!'. O.
April 9, 2010
Secretary of the Commission
Commodity Futures Trading Commission
Three LaFayette Centre
1155 21
st
Street NW
Washington, DC 20581
Dear Sir:
Thank you for the opportunity to comment on the issue of position limits for
precious metals.
It seems to me that a speculative position limit in COMEX silver of 1500 contracts
would be appropriate. Please restrict any hedging exemptions for that limit to
strictly legitimate hedgers.
Accordingly, please stop the levels of concemration in COMEX silver futures
that have existed over the past few years on the short side of the market.
This may be your last opportunity to do the right thing and get on top of the precious
metals situation before it becomes a public embarrassment to the CFTC.
Yours truly,
Fred D, Gay
179 Hunters Path
Bellefonte, PA 16823
