Comment Text:
Re: Position Limits
The current proposed formula would result in a position limit of over 5,000 contracts for any single speculator, on an all-months-combined basis. 5,000 contracts is the equivalent of 25 million ounces of silver. This is too high of a threshold in light of the realities of the world silver market.
A 1500 contract (7.5 million ounce) position limit for silver is reasonable in that miners, users and investors would be protected from speculator driven price distortions.
