A short squeeze has really not yet begun.
This is a 'convenient crisis' if they wish to allow the price of gold to rise gracefully without being too straightforward about the impending squeeze on physical supply which their monetary and official bullion policies are causing. It would tend to relieve some of the pressure if it is done judiciously.
However, I don't think it likely this will happen however, since this implies a certain self-awareness and humility that is uncharacteristic of the banking cartel.
To paraphrase Orwell, in a currency war, as in a war by other means, the first victim is the truth.