ML-Implode News - Did Shanghai just blow a hole in the old gold market?

... the few percentage point drop in the dollar against the yen over the past week is really not enough to justify a nearly $60 rise in the price of gold over the past five trading sessions.Â The bigger determinant has been China's underpinning of the gold price on two different occasions over the past week after it had taken a major turn to the downside in New York trading... the two reversals of New York pricing -- occurring over the course of the past week -- sent a message loud and clear to traders around the world: China was going to be a presence in the gold market and a formidable one.
... Do you remember reports a few weeks back, reported here, about a secret G20 accord to organize a de facto dollar devaluation? More and more, it is beginning to look like such an accord may have been agreed. If so, it would explain the Fed's mysterious dovishness of the past several weeks. It also serves as an additional impetus to gold demand among investors of all descriptions -- private, public and institutional... Coupled with Shanghai's aggressive acquisition strategy, we do think that we may have entered a new era for the gold and silver markets.

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Did Shanghai just blow a hole in the old gold market?