If there is one thing China has going for it, it is that its investor class' opinion is at the whim of the oilgarchs. In the US, Blackhawk Bernanke feels he must appease everyone, from the Major hedge funds to the government institutions. In China, they are one in the same. For the most part, the investors work for the government. Therefore, what is in the best interest of the government is in the best interest of the people, because the government says so.
Case in point, China knows the end game lies in how much precious metals can be hoarded. Sure, they want equities higher, but not at the loss of precious metal holdings. So, for the most part since the Fall of '08, China has not let PMs appreciate out of whatever range they come in at. People were calling this the "Chinese put". That is apropos.
China will sacrifice almost anything to keep buying in this price range. They will float rumors bi monthly of hike rates, hike rates that have never happened ahead of the Federal Reserve Bank until a few short months ago (the hike was marginal). They will most likely not do this for the reason stated above, they want gold cheap. If they, or anyone for that matter, raise rates, that will deal a death blow to the farcism. Cash will need a place to run, and unsure if the Yuan or the dollar are the better bet, the cash will run to gold. A substantial rate hike will put the nails in the Neo-Keynesian coffin.