Comment Text:
Commissioners,
Please consider contract limits of 1,500 or less (7.5 million ounces) of silver on your exchanges. I think the current 5,000 contracts (25 million ounces) is too high, as this cannot be considered a hedge for any but three silver producers in the world. Implementing this lower number of contracts will significantly help companies like JP Morgan when the price of silver hits $787.30 (approximately) per physical ounce later this decade.
Thank you for your time.
John Bruno
