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Message: CFTC's Chilton wants position limits on gold, silver trading

CFTC's Chilton wants position limits on gold, silver trading

posted on Jul 10, 2009 03:28PM

don't look now, but hell may be about to freeze over. of course the intent is to limit positions on oil and gas positions, but there is some possibility those limits could be applied to gold and silver:

Chilton said he daily hears concerns about large positions being held in metals, particularly in silver and gold. Since last September, the CFTC's enforcement division has joined other federal and international regulators in an investigation into potential manipulation and concentration of positions in the silver market, he added.

Chilton said he is unsure whether his fellow commissioners would support position limits on metals, but is hopeful the idea will gain momentum during the hearings on oil and gas. "I'm hopeful that when we produce a rule" on oil and gas position limits "we have metals in there," he said.

http://compliancereporter.com/Home/ArticleLogin/2250881/CFTC_Commissioner_Calls_For_Metal_Trading_Limits.aspx

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