Comment Text:
Dear Chairman Gensler and fellow Commissioners:
Thank you for giving the public an opportunity to comment on your proposed rules. My main concern is with one commodity, SILVER. As an individual investor I believe the current silver market is being manipulated by persons or groups of persons that control large numbers of contracts relative to the amount of the SILVER that is available. I have sent in my comments previously so I will not reiterated the facts that have lead me to this belief.
The proper level for position limits in silver is about 1500 contracts or 7.5 million ounces. That amount is still larger than what the vast majority of the world’s silver producers and consumers make or use in a year. Any amount greater than 1500 contracts by one entity is a license to manipulate the market.
Please consider this in you decision making process.
Thank you.
Gordon Tomat
