Nadler (Chief Gold analyst for Kitco Metals) claims that gold demand in India is very weak yet this is in stark contrast with the Reuters article I just posted.

This guy is either a complete idiot or a big liar...

Here's what he said in his interview: (Btw, you can find the article at goldseek.com)

We’re in Indian Festival season and they’re lamenting about very poor sales. We just learned in mid-October, for instance, that the World Gold Council is apprehensive about sales levels of bullion in India, the largest consuming nation of the metal. Not only did they change their gold promotion campaign roughly in June or July, the campaign was switched to something very emotional, with raw appeal to long-standing cultural concepts. They really came down to the nitty-gritty to remind Indians that this is part of their cultural and spiritual life. The previous campaign had a happy, luxurious, light-hearted approach.