is there any substance in this .... , page-16

I think you'll find that Australia is now the number one producer of gold with China second. I also read somewhere that the gold mined in China doesn't leave China. Perhaps someone can confirm that.
As Chinese banks have now been told not to lend to American banks, they are cutting off that risk. If you were a senior official in the Chinese government in charge of fiscal policy, would you rather have your reserves in American dollars or gold? Unfortunately there is not enough gold available in the world for the Chinese to convert their dollar reserves into gold.
If the Chinese were buying gold I doubt if they would flag this to the market. They might even buy through proxies. They are exceedingly smart business-people -smarter than those on Wall Street.