Nobody knows, so anyone claiming they do is either scamming for twitter revenue or a spook.

The price of gold moving somewhat violently does imply a lot of redemption activity, but that could be for any number of reasons. The move doesn't seem big enough to imply a vault run.

Chatter about Trump and the US Treasury planning to re-value the US's gold holdings makes a lot of sense and I think far more interesting since the dollar is the denominator for global debt and trade.

The London exchange being tits up would have less impact than Ft Knox being tits up, and we know Elon/DOGE is sniffing around that already. Ft. Knox truthers pre-date London truthers by decades.

Given we can't know, we could postulate on the possibilities:

London is tits up: Gold runs up higher as dying currencies and banks try to stop the bleeding in foreign exchange markets. The London financial center death march is complete. My timeline for the UK becoming a US state/protectorate gets accelerated. Bitcoin pumps.

Trump revalues US gold and it's actually there: This lets the treasury issue new currency without new debt, basically QE. Bitcoin pumps.

DOGE finds that US gold was looted in the 60s/70s: The debt gets cancelled due to currency manipulation fraud. Everyone realizes gold is a scam, Bitcoin pumps.

So no matter what, Bitcoin pumps.