Yes, that's not far fetched. China and Russia are strongly pushing to shift the world'd economy from being backed by dollar but by gold, and this would definitely help the price of gold to appreciate and in all fairness, China has been one of the most forthcoming countries actively and aggressively transforming migrating its population from middle class to rich and its been working for them. However, if China continues in its path not to fully embrace bitcoin, some of the things that are working for them now will begin to work against them in the nearest future.
I think China is promoting gold and silver because the demand is very high then. The sad thing is it's down from 2013 to the present day. Demand for gold and silver fell. People just want to buy smartphones and gadgets, not jewelry.
I do not see any problems with it. Our family business is about gold and silver since the 90's and I think, 2012 is the golden year and silver has the highest price.