Comment Text:
10-005
COMMENT
CL-01575
From:
Sent:
To:
Subject:
Levi
Friday, April 9, 2010 12:37 PM
Metals Heating
Metals heating.
Dear Sir;
I want to thank you for the opportunity to comment on the issue of position limits for precious
metals. I have a great deal of our savings invested in precious metals, and I'm accumulating more
as time goes by as I don't see a good future for the currencies of the GS, especially the US$. I
believe the CFTC should establish a speculative position limit in COMEX silver of no more than 2000
contracts, with similar actions in regards to gold. The
concentration in COMEX silver futures that
have been quite apparent on the short side of the market should not be allowed going forward, and
severe penalties should be instituted if they become apparent. Hedging exemptions from those
limits should be clearly restricted to legitimate hedgers, and the exemptions should be very small
in nature and closely monitored for infractions. I realize the difficulties involved in making these
changes, but it is the job of the CFTC to ensure a level playing field in the commodities markets. At
this time, that is not the case in the metals markets.
Sincerely,
Levi Hurley
