The million dollar question, though, is:

Will China overtly take control of Gold pricing (through the Shanghai Gold Exchange) away from London and New York?

Personally, (and I must mention that I have been living in China for the past decade and have become a great student of their politics and culture) I don't think they will.

They will let it (London & New York) implode first and then reveal their 20,000+ tons of gold reserves and then reprice gold much much higher.