Comment Text:
To whom it may concern,
While I am grateful to the Commission for a second opportunity to comment on this matter, I am somewhat surprised at the delay in acheiving any resolution.
I would earnestly request that the Commission takes urgent and early steps in respect of the following: -
1. To establish a speculative position limit in COMEX silver of no more than 1500 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, and which have more recently been concentrated in the hands of very few entities. Such events do little to enhance the international reputation of the Commission as an arbiter of prudent and equitable business practice.
I thank you for your kind attention to and consideration of the above,
George Gordon-Smith
