Comment Text:
Fair and appropriate position limits in silver should be NO MORE than 1,500 contracts or 7.5M ounces.
The current proposed limit of over 5,000 contracts will not stop concentrated short positions taken up by the bullion banks unduely influencing the futures price.
The 1,500 contract limit is reasonable, in relation to annual world silver production but even then it is still greater than any other current concentration in physical commodities traded on the COMEX.
