The Chinese could conceivably -- now that their currency has been accepted as a "reserve" currency by the World Bank -- declare that the yuan will be backed by gold. Then they would be the ones controlling the gold price, and stepping into the shoes occupied for the last century by the USA as the issuer of the Premier reserve currency. I don't expect that to happen as long as they can still buy physical gold at the beaten-down prices chosen by US Bullion banks.