Kingold Jewelry, Inc. announced operating results for the third quarter and nine months ended September 30, 2019. For the quarter, the company processed a total of 13.7 metric tons of gold, of which branded production accounted for 9.3 metric tons (68.0%) and customized production accounted for 4.4 metric tons (32.0%). During the three months ended September 30, 2018, the Company processed a total of 29.6 metric tons of gold, of which branded production accounted for 16.6 metric tons (56.1%) and customized production accounted for 13 metric tons (43.9%).

For the first nine months, the company processed a total of 63.6 metric tons of gold, of which branded production accounted for 35.3 metric tons (55.5%) and customized production accounted for 28.3 metric tons (45.5%). During the nine months ended September 30, 2018, the Company processed a total of 80.5 metric tons of gold, of which branded production accounted for 46.5 metric tons (57.7%) and customized production accounted for 34.0 metric tons (42.3%).

The company has seen gold demand begin to recover following the conclusion of the quarter as gold prices have stabilized. As a result of the shift in demand, the company is revising guidance to around 110 metric tons of 24-karat gold products in 2019.