^^^ Wait until they start buying up all the gold paper futures contracts, that's when the gold price will take off.
China's Central Bank controls the influx of gold into the country. In 2019, the Central Bank stopped that influx; my guess is that it was concerned about the diminishing foreign currency reserve at that time. Now, it lifts the ban, encouraging commercial banks buying precious metals. Good news for hoarders as the demand for gold and silver is going up.