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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
015 A000029 BARCLAYS BANK PLC
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 11
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<PAGE> PAGE 14
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SIGNATURE DIOMEDES LOO-TAM
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE FRANKLIN GOLD FUND JULY 31, 1995 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> FRANKLIN GOLD FUND - CLASS I
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<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE FRANKLIN GOLD FUND JULY 31, 1995 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> FRANKLIN GOLD FUND - CLASS II
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<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
REPORT OF INDEPENDENT AUDITORS
To the Shareholders and Board of Directors of
Franklin Gold Fund:
In planning and performing our audit of the financial
statements and financial highlights of the Franklin Gold
Fund for the year ended July 31, 1995, we considered its
internal control structure, including procedures for
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and financial highlights and to comply
with the requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of the Franklin Gold Fund is responsible for
establishing and maintaining an internal control structure.
In fulfilling this responsibility, estimates and judgements
by management are required to assess the expected benefits
and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control
structure are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition and that transactions
are executed in accordance with management's authorization
and recorded properly to permit preparation of financial
statements in conformity with generally accepted accounting
principles.
Because of inherent limitations in any internal control
structure, errors or irregularities may occur and not be
detected. Also, projection of any evaluation of the
structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or
that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control structure would
not necessarily disclose all matters in the internal control
structure that might be material weaknesses under standards
established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which
the design or operation of the specific internal control
structure elements does not reduce to a relatively low level
the risk that errors or irregularities in amounts that
would be material in relation to the financial statements
and financial highlights being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However, we
noted no matters involving the internal control structure,
including procedures for safeguarding securities, that we
consider to be material weaknesses, as defined above, as of
July 31, 1995.
This report is intended solely for the information and use
of management of the Franklin Gold Fund and the Securities
and Exchange Commission.
S\COOPERS & LYBRAND L.L.P.
Coopers & Lybrand L.L.P.
San Francisco, California
August 31, 1995
FORM N-SAR
REGISTRANT:
FRANKLIN GOLD FUND
File No. 811-1700
EXHIBIT - Item 77C - Matters submitted to a vote of security
holders
At the annual meeting of shareholders of the registrant held on
March 7, 1995 the following item was voted upon:
To approve an amendment to the Fund's Articles of Incorporation
to permit the issuance of an additional class of shares and to
make other conforming changes.
Vote For Vote Against
13,623,364 1,097,865
NAME OF REGISTRANT:
Franklin Gold Fund
File No. 811-1700
EXHIBIT ITEM No. 77I(b):
The registrant issues two classes of shares: Franklin Gold
Fund - Class I and Franklin Gold Fund - Class II. Shares of
each class represent proportionate interests in the assets
of the Registrant and have the same voting and other rights
and preferences as the other class of the Registrant for
matters that affect the Registrant as a whole.
EXHIBIT 77 C
FRANKLIN RESOURCES, INC.
777 Mariners Island Blvd.
P.O. Box 7777
San Mateo, CA 94403-7777
415/312-3000
ACTION OF SOLE SHAREHOLDER BY WRITTEN CONSENT
The undersigned, being the sole shareholder of the Class II
shares of each of the Franklin Templeton Funds listed on the
attached Schedule A (the "Funds"), each of which is a series of
the Investment Companies as indicated on Schedule A (the
"Companies"), does hereby take the following actions and does
hereby consent to the following resolution:
RESOLVED: That the Distribution Plans pursuant to Rule
12b-1 (under the Investment Company Act of 1940), as
agreed to and accepted by Franklin/Templeton
Distributors, Inc. and each of the Companies prior to
the date below, be and it hereby is, approved for each
Fund.
By execution hereof, the undersigned shareholder waives
prior notice of the foregoing action by written consent.
FRANKLIN RESOURCES, INC.
s/H.E. Burns
Dated as of: April 28, 1995 By: Harmon E. Burns
Executive Vice President
SCHEDULE A
INVESTMENT COMPANY FUND & CLASS; TITAN NUMBER
Franklin Gold Fund Franklin Gold Fund - Class II; 232
Franklin Equity Fund Franklin Equity Fund - Class II; 234
Franklin Custodian Funds, Inc. Growth Series - Class II; 206
Utilities Series - Class II;
207
Income Series - Class II; 209
U.S. Government Securities
Series - Class II; 210
Franklin California Tax-Free Franklin California Tax-Free Income
Income Fund, Inc. Fund - Class II; 212
Franklin New York Tax-Free Franklin New York Tax-Free Income
Income Fund, Inc. Fund - Class II; 215
Franklin Federal Tax-Free Franklin Federal Tax-Free Income
Income Fund Fund -Class II; 216
Franklin Managed Trust Franklin Rising Dividends
Fund - Class II; 258
Franklin California Tax-Free Franklin California Insured Tax-Free
Trust
Income Fund - Class II; 224
Franklin New York Tax-Free Trust Franklin New York Insured Tax-Free
Income Fund - Class II; 281
Franklin Investors Securities Franklin Global Government Income
Trust
Fund - Class II; 235
Franklin Equity Income
Fund - Class II; 239
Franklin Strategic Series Franklin Global Utilities
Fund - Class II; 297
Franklin Real Estate Securities Franklin Real Estate Securities
Trust
Fund - Class II; 292
INVESTMENT COMPANY FUND AND CLASS; TITAN NUMBER
Franklin Tax-Free Franklin Alabama Tax-Free Income Fund - Class II;
264
Trust Franklin Arizona Tax-Free Income Fund - Class II;
226
Franklin Colorado Tax-Free Income Fund - Class
II; 227
Franklin Connecticut Tax Free Income
Fund - Class II; 266
Franklin Florida Tax-Free Income Fund - Class II;
265
Franklin Georgia Tax-Free Income Fund - Class II;
228
Franklin High Yield Tax-Free Income Fund - Class
II; 230
Franklin Insured Tax-Free Income Fund - Class II;
221
Franklin Louisiana Tax-Free Income Fund - Class
II; 268
Franklin Maryland Tax-Free Income Fund - Class
II; 269
Franklin Massachusetts Insured Tax-Free Income
Fund - Class II; 218
Franklin Michigan Insured Tax-Free Income
Fund - Class II; 219
Franklin Minnesota Insured Tax-Free Income
Fund - Class II; 220
Franklin Missouri Tax-Free Income Fund - Class
II; 260
Franklin New Jersey Tax-Free Income
Fund - Class II; 271
Franklin North Carolina Tax-Free Income
Fund - Class II; 270
Franklin Ohio Insured Tax-Free Income
Fund - Class II; 222
Franklin Oregon Tax-Free Income Fund - Class II;
261
Franklin Pennsylvania Tax-Free Income
Fund - Class II; 229
Franklin Puerto Rico Tax-Free Income
Fund - Class II; 223
Franklin Texas Tax-Free Income Fund - Class II;
262
Franklin Virginia Tax-Free Income Fund - Class
II; 263
