Comment Text:
Dear Commissioners:
I urge you to reduce the proposed position limits on silver from 5000 to 1500 or less. 5000 contracts represents 25 million ounces a silver, which is an enormous proportion of the yearly production of silver. A position limit that large will distort market signals by making silver appear much more plentiful than it actually is.
Please institute a 1500 contract (7.5 million ounce) position limit for silver.
Very Respectfully,
Douglas Weber
