Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I urge you to approve the staff’s proposal on position limits, including limiting exemptions to bona fide hedgers. As described the formula that would allow a 5000 contract limit in Silver seems too high. 5000 contracts is more than 60% of the total silver available for delivery in the COMEX vaults. A more reasonable position limit woul dbe 1500 contracts.
Paul Breed
