Miners Can't Operate With Gold Below $1,500, Gold Fields Says

http://www.bloomberg.com/news/2013-06-27/miners-can-t-operate-with-gold-below-1-500-gold-fields-says.html

Bullion must rise to $1,500 an ounce for the gold mining industry to be sustainable, according to Gold Fields Ltd. (GFI)'s Chief Executive Officer Nick Holland. "The industry is not sustainable at $1,230 an ounce, which is where the gold price is at the moment," Holland said today in a telephone interview. "We're going to need at least $1,500 an ounce to sustain this industry in any reasonable form."'' -- WHAT?! You mean this price makes no economic sense and is probably manipulated to please the Fed and the rest of the world's central banks? We don't believe it -- such major markets are never manipulated!