Is China really going to get their gold delivered? Was there any hanky panky with their bullion in London depositories as far as illegally leasing it out? Since Fort Knox's gold will never be audited how about custody with the London stored gold along with the gold held at the NY Federal Reserve for Western European banks? The only really honest dude out there is the Central Fund of Canada.
If there is any delay in shipping Chinese gold because of inappropriate custody do you really think China will settle for excuses or cash squaring? Already there is talk of China banning gold and silver exports.
The Chinese are far smarter than the media gives them credit for. It's just a matter of time before the paper house of gold promises comes collapsing down with the resulting mad rush starting for the physical.
Got your gold in hand?