Saw the following on another board and thought I would share it here - assuming its correct contrary to voices of concern, India is still buying gold which should be viewed as positive for bulls:

11 Nov 2009, 2132 hrs IST, PTI


NEW DELHI: India's gold imports surged by over 45 per cent in October at 48 tonnes on the back of rising demand, the country's largest state-run
gold importing firm MMTC said today.

India, the world's largest gold consumer, had imported 33 tonnes in the corresponding period last year, it said.

"Gold imports rose due to a sharp rise in jewellery demand and pick up in investment," MMTC Chairman and Managing Director Sanjiv Batra told reporters here.