User blog comment:EvanDude345rv5/Fairy Tail 334 , BOOM HEADSHOT! WTF ?/@comment-117.216.102.27-20130608091309/@comment-5580383-20130608130556

He was shot in the head, it's hard to argue he'll survive that,especially when he has 8 bullet like wound on the rest of his body. Gray is definitely NOT alive at the moment.

Natsu and Juvia are bond to go apeshit  given how close  Natsu and Gray were as well as  Juvia and Gray  however  we  know Gray would be  revived going by   Ultear's emo moment and the context of the next chapter's tite