China's reserves of US$ cash are enough to buy all the gold the US owns almost 3 times over.
As the biggest buyer of gold they control the market price anyway, just as they do oil.

Your economy has grown 50% in the past 10 years. In the same time, theirs has grown 1,000%

If those trends continue then within 40 years they will own all your money and all your gold (and Im sure ours as well). It doesnt matter what you value another countries assets at if you are bankrupt yourself