[Reed Smith LLP 599 Lexington Avenue New York, NY 10022-7650 +1 212 521 5400 Fax +1 212 521 5450 reedsmith.com November 19, 2014 Kingold Jewelry, Inc. Ladies and Gentlemen: Company Shares Sales Agreement Prospectus Supplement Base Prospectus Registration Statement Prospectus Securities Act ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨] [KINGOLD JEWELRY, INC. Common Stock At Market Issuance Sales Agreement November 19, 2014 MLV & Co. LLC st 1251 Avenue of the Americas New York, New York 10020 Ladies and Gentlemen: Company Agreement MLV Kingold Jewelry, Inc., a Delaware corporation (the “ Issuance and Sale of Shares Placement Shares Common Stock provided however Maximum Amount Section 1 1. Securities Act] []