It is really really hard to tell without actually being around both of you to see your body language and such..
But - I think this can be very normal behavior for a gay male - not all gay males, but I have quite a few gay male friends who act like this, and i honestly think its just part of the way they are.
My BFF is gay too - and we admitted we were head over heels in love with each other after a week. BUT we both know it would never work out, so we do not pursue it. We have more of a romantic friendship - we cuddle and talk and sometimes kiss, but its all very friendly and not sexual at all. He is just the one guy i trust with my life and would do anything for, and vice versa. In fact, my one year old son is named after him!(jeremy)
I think you need to sit down and talk to him - ask him what is going on. say something like "okay, maybe I am just reading too much into this but THIS is what I see happening. What do you think of whats going on?"
I wish you the best of luck