It's possible that Kitco makes more money selling gold to Jewellers than they make selling bullion to investors, so it is entirely possible that they would want their gold analyst(Nadler) to mirror what maybe is their desire, which I am speculating might be, for gold to not launch too high in price, so as to not kill off their sales in the jewellery industry.

I have spoken to jewellers and they are not selling as much gold jewellery these days because of the higher price for retail consumers.

I don't think that Nadler considers Gold as a currency but rather a commodity, so perhaps that is why he clashes with all the heavy-weights (Embry's, Sinclair's etc.) when it comes to his prognosis on gold and the gold market.

He comes across as clueless when it comes to analyzing the gold sector....jmo