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.
I would ask you, however, to readjust the proposed formula in silver. The current formula of 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.
Please institute a 1,500 contracts (7.5 million ounces) position limit for silver.
Respectfully submitted,
Jeff Kelsey
