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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)
of </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): October 4, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>KINGOLD JEWELRY, INC. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 31%; padding-bottom: 2pt; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 3%; padding-bottom: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-bottom: 2pt; font-weight: bold; text-align: center">001-15819</TD>
    <TD STYLE="width: 3%; padding-bottom: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 31%; padding-bottom: 2pt; font-weight: bold; text-align: center">13-3883101</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>15 Huangpu Science and Technology Park</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Jiang&rsquo;an District</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Wuhan, Hubei Province, PRC</B></P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">430023</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;Registrant's telephone number, including area code: <B>(011)
86 27 65694977</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see</I> General Instruction
A.2. below):</P>

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    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
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    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 4, 2012, we entered into
a Stock Loan and Repurchase Agreement, or the Loan Agreement, with Equities First Holdings, LLC, a Delaware limited liability company,
or EFH, providing for three-year non-recourse term loans collateralized by shares of our common stock. Pursuant to the Loan Agreement,
EFH will extend term loans to us and we will issue and pledge shares of our common stock to EFH as collateral for such term loans.
When we repay the outstanding principal amount of the loan (along with any accrued yet unpaid interest and other obligations due
EFH) at maturity, EFH will return to our company the shares of our common stock pledged as collateral. Because the term loans are
non-recourse, if we elect not to pay an outstanding loan in full at maturity, EFH has agreed to look only to the shares of our
common stock that it was issued as collateral for payment of our obligations under such term loan. Such non-repayment, however,
would be considered an Event of Default (as such term is defined in the Loan Agreement), and   result in the acceleration
of the maturity date of any other term loans from EFH that are then outstanding under the Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The initial principal amount of
each term loan will be determined by reference to the number of shares of our common stock that EFH is issued and pledged
as collateral for such loan. The principal amount will be equal to such number of shares multiplied by 75% of the lower of
(x) the last sale price of our common stock on the business day prior to delivering the shares of our common stock to EFH and
(y) the average of the last sale prices for the three consecutive business days prior to delivering the shares of our common
stock to EFH. The Loan Agreement provides that term loans will bear interest at a rate of 4% (which may be increased to 7% in
the event of a default), payable quarterly in arrears, and will have a maturity date of three years. We have also agreed to
pay a loan origination fee of 4.5% of the loan principal amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The initial term loan under the Loan
Agreement is to be based upon the issuance of 600,000 shares of our common stock to EFH as collateral, which EFH has agreed
to fund within three business days of satisfaction of the conditions set forth in the Loan Agreement. Additional tranche
loans will be collateralized by future issuances and pledges of shares of our common stock to EFH subject to a maximum
aggregate amount of 10,600,000 shares of our common stock, representing less than 19.9% of our issued and outstanding shares
of common stock. The number of shares to be issued for any such tranche loan will vary based on the 10-day average daily
trading volume of our common stock, subject to a minimum 50,000 share volume requirement. In addition, EFH is not obligated
to fund additional tranche loans if, among other items, there is an event of default that is existing and continuing, the
average daily trading volume of our common stock for 10 consecutive days prior to a tranche loan is less than 50,000 shares,
the number of shares subject to such tranche loan would exceed 4.99% of our issued and outstanding shares of common stock, or
if entry into the tranche loan would cause EFH to beneficially own more than 9.5% of our issued and outstanding common
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">So long as there is no Event of
Default, we have the right to terminate the Loan Agreement at any time upon five business days&rsquo; notice without any
prepayment penalty. EFH has agreed to credit towards any interest due and payable and any future payments of interest any
interest, dividends, distributions or other amounts it may receive on the shares of our common stock that it holds
as collateral for such loan. EFH has also agreed that it will not vote any shares of our common stock that it is holding
as collateral. Finally, in the event the value of the pledged collateral (by reference to the trailing three-day average
last sale price) does not exceed 80% of the loan principal amount, we have agreed to issue EFH additional shares of our
common stock (or pay cash) to address the deficiency, or terminate the agreement, subject to the limitation that we will not
issue more than an aggregate of 10,600,000 shares of our common stock under any circumstances pursuant to the Loan
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We intend to issue EFH shares of common
stock that have been registered with the Securities and Exchange Commission (&ldquo;SEC&rdquo;) on our registration statement on
Form S-3 (SEC File No. 333-179694) and have prepared and filed with the SEC a prospectus supplement relating to such offer and sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing description of the Loan Agreement
is qualified in its entirety by reference to the full text of the Loan Agreement, attached hereto as Exhibit 10.1, and which is
incorporated herein in its entirety by reference.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2.03&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Creation of a Direct Financial Obligation or
an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The disclosure contained in Item 1.01 of
this Current Report on Form 8-K is incorporated by reference in its entirety into this Item 2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01&#9;Financial Statements and Exhibits.</B></P>

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    <TD STYLE="width: 14%; vertical-align: top; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 86%; vertical-align: bottom; font-weight: bold">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-decoration: underline">No.</TD>
    <TD STYLE="width: 91%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left-color: windowtext; border-left-width: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-decoration: underline">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-top-color: windowtext; border-top-width: 1pt; padding-right: 5.4pt; padding-left: 5.4pt">5.1</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Opinion of Reed Smith LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-top-color: windowtext; border-top-width: 1pt; padding-right: 5.4pt; padding-left: 5.4pt">10.1</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Stock
    Loan and Repurchase Agreement, dated October 4, 2012 between Kingold Jewelry, Inc. and Equities First Holdings, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-top-color: windowtext; border-top-width: 1pt; padding-right: 5.4pt; padding-left: 5.4pt">23.1</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Consent
    of Reed Smith LLP (included in Exhibit 5.1)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">KINGOLD JEWELRY, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:&nbsp;</TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid">/s/ Zhihong Jia</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Zhihong Jia</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title: &nbsp;</TD>
    <TD>Chairman and Chief Executive Officer</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: October 4, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): October 4, 2012
KINGOLD JEWELRY, INC.
(Exact name of registrant as specified
in its charter)
Delaware
001-15819
13-3883101
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
15 Huangpu Science and Technology Park
Jiang'an District
Wuhan, Hubei Province, PRC
430023
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(011)
86 27 65694977
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction
A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01	     Entry into a Material Definitive Agreement.
On October 4, 2012, we entered into
a Stock Loan and Repurchase Agreement, or the Loan Agreement, with Equities First Holdings, LLC, a Delaware limited liability company,
or EFH, providing for three-year non-recourse term loans collateralized by shares of our common stock. Pursuant to the Loan Agreement,
EFH will extend term loans to us and we will issue and pledge shares of our common stock to EFH as collateral for such term loans.
When we repay the outstanding principal amount of the loan (along with any accrued yet unpaid interest and other obligations due
EFH) at maturity, EFH will return to our company the shares of our common stock pledged as collateral. Because the term loans are
non-recourse, if we elect not to pay an outstanding loan in full at maturity, EFH has agreed to look only to the shares of our
common stock that it was issued as collateral for payment of our obligations under such term loan. Such non-repayment, however,
would be considered an Event of Default (as such term is defined in the Loan Agreement), and   result in the acceleration
of the maturity date of any other term loans from EFH that are then outstanding under the Loan Agreement.
The initial principal amount of
each term loan will be determined by reference to the number of shares of our common stock that EFH is issued and pledged
as collateral for such loan. The principal amount will be equal to such number of shares multiplied by 75% of the lower of
(x) the last sale price of our common stock on the business day prior to delivering the shares of our common stock to EFH and
(y) the average of the last sale prices for the three consecutive business days prior to delivering the shares of our common
stock to EFH. The Loan Agreement provides that term loans will bear interest at a rate of 4% (which may be increased to 7% in
the event of a default), payable quarterly in arrears, and will have a maturity date of three years. We have also agreed to
pay a loan origination fee of 4.5% of the loan principal amount.
The initial term loan under the Loan
Agreement is to be based upon the issuance of 600,000 shares of our common stock to EFH as collateral, which EFH has agreed
to fund within three business days of satisfaction of the conditions set forth in the Loan Agreement. Additional tranche
loans will be collateralized by future issuances and pledges of shares of our common stock to EFH subject to a maximum
aggregate amount of 10,600,000 shares of our common stock, representing less than 19.9% of our issued and outstanding shares
of common stock. The number of shares to be issued for any such tranche loan will vary based on the 10-day average daily
trading volume of our common stock, subject to a minimum 50,000 share volume requirement. In addition, EFH is not obligated
to fund additional tranche loans if, among other items, there is an event of default that is existing and continuing, the
average daily trading volume of our common stock for 10 consecutive days prior to a tranche loan is less than 50,000 shares,
the number of shares subject to such tranche loan would exceed 4.99% of our issued and outstanding shares of common stock, or
if entry into the tranche loan would cause EFH to beneficially own more than 9.5% of our issued and outstanding common
stock.
So long as there is no Event of
Default, we have the right to terminate the Loan Agreement at any time upon five business days' notice without any
prepayment penalty. EFH has agreed to credit towards any interest due and payable and any future payments of interest any
interest, dividends, distributions or other amounts it may receive on the shares of our common stock that it holds
as collateral for such loan. EFH has also agreed that it will not vote any shares of our common stock that it is holding
as collateral. Finally, in the event the value of the pledged collateral (by reference to the trailing three-day average
last sale price) does not exceed 80% of the loan principal amount, we have agreed to issue EFH additional shares of our
common stock (or pay cash) to address the deficiency, or terminate the agreement, subject to the limitation that we will not
issue more than an aggregate of 10,600,000 shares of our common stock under any circumstances pursuant to the Loan
Agreement.
We intend to issue EFH shares of common
stock that have been registered with the Securities and Exchange Commission ("SEC") on our registration statement on
Form S-3 (SEC File No. 333-179694) and have prepared and filed with the SEC a prospectus supplement relating to such offer and sale.
The foregoing description of the Loan Agreement
is qualified in its entirety by reference to the full text of the Loan Agreement, attached hereto as Exhibit 10.1, and which is
incorporated herein in its entirety by reference.
Item 2.03	     Creation of a Direct Financial Obligation or
an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure contained in Item 1.01 of
this Current Report on Form 8-K is incorporated by reference in its entirety into this Item 2.03.
Item 9.01	Financial Statements and Exhibits.
(d) Exhibits
No.
Description
5.1
Opinion of Reed Smith LLP
10.1
Stock
    Loan and Repurchase Agreement, dated October 4, 2012 between Kingold Jewelry, Inc. and Equities First Holdings, LLC
23.1
Consent
    of Reed Smith LLP (included in Exhibit 5.1)
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
KINGOLD JEWELRY, INC.
By:
/s/ Zhihong Jia
Name:
Zhihong Jia
Title:
Chairman and Chief Executive Officer
Date: October 4, 2012