Is the lower than expected Chinese gold reserve build a reason to be bearish?

Comments from analysts on gold suggest it's the prospect of the Federal Reserve rate hike coming up that's more of a weight on gold than the Chinese lower than expected reserve build

• Analysts cite US employment improving will prompt a Fed hike
• China's increased gold holdings by roughly 57% over the last 6 years
• But expectations were for a 100-300% increase
• Some analysts say that with China holding less gold than they were expected to, its not a reason to be bearish on gold, but rather China is likely to purchase gold on a continuing, gradual basis