I think Rickards makes sense if you add a timeframe to each phase.
China is importing gold with an eye towards having a strong currency in the long term.
China is preparing for a devaluation to fix their banking problem – in the short term.
Yep, that was my take on it as well. As to the actual devaluation you're probably right – wait for a disaster to strike elsewhere then announce the 'response'.
Regarding the 'but not here' indication on your chart I suspect all that movement was Brexit related. But I take the point, the correction wasn't as deep as the first two.