FRANKLIN GOLD FUND
NSAR-A, 1999-03-30
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<PAGE>      PAGE  1
000 A000000 01/31/1999
000 C000000 0000083293
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 FRANKLIN GOLD FUND
001 B000000 811-1700
001 C000000 6503122000
002 A000000 777 MARINERS ISLAND BLVD.
002 B000000 SAN MATEO
002 C000000 CA
002 D010000 94404
002 D020000 1585
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
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008 B000001 A
008 C000001 801-26292
008 D010001 SAN MATEO
008 D020001 CA
008 D030001 94404
008 D040001 1585
010 A000001 FRANKLIN TEMPLETON SERVICES, INC.
010 C010001 SAN MATEO
010 C020001 CA
010 C030001 94404
010 C040001 1585
011 A000001 FRANKLIN/TEMPLETON DISTRIBUTORS, INC.
011 B000001 8-5889
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<PAGE>      PAGE  2
012 A000001 FRANKLIN/TEMPLETON INVESTOR SERVICES, INC.
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012 C010001 SAN MATEO
012 C020001 CA
012 C030001 94404
012 C040001 1585
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 SAN FRANCISCO
013 B020001 CA
013 B030001 94105
013 B040001 2119
014 A000001 FRANKLIN/TEMPLETON DISTRIBUTORS, INC.
014 B000001 8-5889
015 A000001 THE BANK OF NEW YORK
015 B000001 C
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015 C020001 NY
015 C030001 10286
015 E010001 X
015 A000002 BANKBOSTON
015 B000002 S
015 C010002 BUENOS AIRES
015 D010002 ARGENTINA
015 E040002 X
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015 E040003 X
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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015 B000048 S
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015 E040060 X
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015 A000062 UNION BANK OF SWITZERLAND (UBS AG)
<PAGE>      PAGE  6
015 B000062 S
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015 B000064 S
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015 A000072 STANBIC BANK ZIMBABWE LTD.
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015 A000075 DELETE
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015 A000077 DELETE
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015 A000080 DELETE
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015 A000082 DELETE
015 A000083 DELETE
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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SIGNATURE   LAURA FERGERSON                              
TITLE       ASST TREASURER      
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
GOLD FUND JANUARY 31, 1999 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
   <NUMBER> 011
   <NAME> FRANKLIN GOLD FUND - CLASS A
       
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
GOLD FUND JANUARY 31, 1999 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
   <NUMBER> 012
   <NAME> FRANKLIN GOLD FUND - CLASS B
       
<S>                             <C>
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<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         17,705
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       2,863,075
<ACCUMULATED-NII-PRIOR>                         37,682
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                (33,013,624)  
<GROSS-ADVISORY-FEES>                        (608,820)
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                            (1,527,433)
<AVERAGE-NET-ASSETS>                       226,200,887
<PER-SHARE-NAV-BEGIN>                            7.720
<PER-SHARE-NII>                                   .000
<PER-SHARE-GAIN-APPREC>                         (.030)
<PER-SHARE-DIVIDEND>                              .000
<PER-SHARE-DISTRIBUTIONS>                         .000
<RETURNS-OF-CAPITAL>                              .000
<PER-SHARE-NAV-END>                              7.690
<EXPENSE-RATIO>                                  1.980<F2>
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                              .000
<FN>
<F1>FOR THE PERIOD 1/1/1999, (EFFECTIVE DATE) TO 1/31/1999.
<F2>ANNUALIZED
</FN>
        



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
GOLD FUND JANUARY 31, 1999 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
   <NUMBER> 013
   <NAME> FRANKLIN GOLD FUND - CLASS C
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUL-31-1999
<PERIOD-END>                               JAN-31-1999
<INVESTMENTS-AT-COST>                      271,739,615
<INVESTMENTS-AT-VALUE>                     213,616,298
<RECEIVABLES>                                1,169,129
<ASSETS-OTHER>                               1,272,574
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             216,058,001
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,043,437
<TOTAL-LIABILITIES>                          1,043,437
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   317,344,958
<SHARES-COMMON-STOCK>                        3,128,857
<SHARES-COMMON-PRIOR>                        2,740,226
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                       (272,697)
<ACCUMULATED-NET-GAINS>                              0   
<OVERDISTRIBUTION-GAINS>                  (43,934,380)
<ACCUM-APPREC-OR-DEPREC>                  (58,123,317)
<NET-ASSETS>                               215,014,564
<DIVIDEND-INCOME>                            1,530,524
<INTEREST-INCOME>                              718,154
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,527,433)
<NET-INVESTMENT-INCOME>                        721,245
<REALIZED-GAINS-CURRENT>                  (10,920,756)
<APPREC-INCREASE-CURRENT>                   19,406,764
<NET-CHANGE-FROM-OPS>                        9,207,253
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (19,653)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,089,825
<NUMBER-OF-SHARES-REDEEMED>                  (703,287)
<SHARES-REINVESTED>                              2,093
<NET-CHANGE-IN-ASSETS>                       2,863,075
<ACCUMULATED-NII-PRIOR>                         37,682
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                (33,013,624)  
<GROSS-ADVISORY-FEES>                        (608,820)
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                            (1,527,433)
<AVERAGE-NET-ASSETS>                       226,200,887
<PER-SHARE-NAV-BEGIN>                            7.430
<PER-SHARE-NII>                                   .000
<PER-SHARE-GAIN-APPREC>                           .240
<PER-SHARE-DIVIDEND>                            (.010)
<PER-SHARE-DISTRIBUTIONS>                         .000
<RETURNS-OF-CAPITAL>                              .000
<PER-SHARE-NAV-END>                              7.660
<EXPENSE-RATIO>                                  2.030<F1>
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                              .000
<FN>
<F1>ANNUALIZED
</FN>
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
GOLD FUND JANUARY 31, 1999 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
   <NUMBER> 014
   <NAME> FRANKLIN GOLD FUND - ADVISOR CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUL-31-1999
<PERIOD-END>                               JAN-31-1999
<INVESTMENTS-AT-COST>                      271,739,615
<INVESTMENTS-AT-VALUE>                     213,616,298
<RECEIVABLES>                                1,169,129
<ASSETS-OTHER>                               1,272,574
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             216,058,001
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,043,437
<TOTAL-LIABILITIES>                          1,043,437
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   317,344,958
<SHARES-COMMON-STOCK>                          345,013
<SHARES-COMMON-PRIOR>                          290,108
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                       (272,697)
<ACCUMULATED-NET-GAINS>                              0   
<OVERDISTRIBUTION-GAINS>                  (43,934,380)
<ACCUM-APPREC-OR-DEPREC>                  (58,123,317)
<NET-ASSETS>                               215,014,564
<DIVIDEND-INCOME>                            1,530,524
<INTEREST-INCOME>                              718,154
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,527,433)
<NET-INVESTMENT-INCOME>                        721,245
<REALIZED-GAINS-CURRENT>                  (10,920,756)
<APPREC-INCREASE-CURRENT>                   19,406,764
<NET-CHANGE-FROM-OPS>                        9,207,253
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (17,446)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,412,000
<NUMBER-OF-SHARES-REDEEMED>                (1,358,798)
<SHARES-REINVESTED>                              1,703
<NET-CHANGE-IN-ASSETS>                       2,863,075
<ACCUMULATED-NII-PRIOR>                         37,682
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                (33,013,624)  
<GROSS-ADVISORY-FEES>                        (608,820)
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                            (1,527,433)
<AVERAGE-NET-ASSETS>                       226,200,887
<PER-SHARE-NAV-BEGIN>                            7.610
<PER-SHARE-NII>                                   .050
<PER-SHARE-GAIN-APPREC>                           .240
<PER-SHARE-DIVIDEND>                            (.050)
<PER-SHARE-DISTRIBUTIONS>                         .000
<RETURNS-OF-CAPITAL>                              .000
<PER-SHARE-NAV-END>                              7.850
<EXPENSE-RATIO>                                  1.030<F1>
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                              .000
<FN>
<F1>ANNUALIZED
</FN>
        


</TABLE>

NAME OF REGISTRANT:
Franklin Gold Fund
File No. 811-1700

EXHIBIT ITEM No. 77I(b):
 Terms of new or amended securities


The Registrant currently offers four
 classes of shares, Class A, Class B,
 Class C and Advisor Class. Before
 January 1, 1999, Class A shares were
 designated Class I and Class C shares
 were designated Class II. The Registrant
 began offering Class B shares on
 January 1, 1999. The Registrant may offer
 additional classes of shares in the future.
 The full title of each class is:


* Franklin Gold Fund, Franklin Gold Fund Series,
 Franklin Gold Fund -  Class A

* Franklin Gold Fund, Franklin Gold Fund Series,
 Franklin Gold Fund - Class B

* Franklin Gold Fund, Franklin Gold Fund Series,
 Franklin Gold Fund - Class C

* Franklin Gold Fund, Franklin Gold Fund Series,
 Franklin Gold Fund - Advisor Class


Shares of each class represent proportionate
 interests in the Registrant's assets. On matters
 that affect the Registrnt as a whole, each class
 has the same voting and other rights and
 preferences as any other class. On matters that
 affect only one class, only shareholders of that
 class may vote. Each class votes separately on
 matters affecting only that class, or expressly
 required to be voted on separately by state or federal
 law. 


wpdoc2\nsar\1999\132-77i.doc
                                    3/4/99





NAME OF REGISTRANT:
Franklin Gold Fund
File No. 811-1700

EXHIBIT ITEM No. 77Q(a): Copies of any material amendments
 to the registrant's charter or by-laws


CERTIFICATE OF AMENDMENT

TO

ARTICLES OF INCORPORATION

OF

FRANKLIN GOLD FUND



Deborah R. Gatzek certifies that:


1.	She is the Vice President and Secretary of
 FRANKLIN GOLD FUND, a California corporation
 (the "Corporation").

2.	The third paragraph of Article V of the
 Articles of Incorporation of this corporation
 is hereby amended to read as follows:


The Franklin Gold Fund Series shall be issued in
 two or more series, and the initial two series
 are "Franklin Gold Fund - Class I" ("Class I")
 and "Franklin Gold Fund - Class II" ("Class II").
  Forty-five million (45,000,000) shares shall be
 allocated to Class I, and twenty-five million
 (25,000,000) shares shall be allocated to Class II,


3.	The effect of the foregoing amendment to the
 third paragraph of Article V of the Articles of
 Incorporation is to decrease the number of shares
 allocated to Franklin Gold Fund - Class II from 45
 million (45,000,000) to twenty-five million 
(25,000,000). Less than twenty-five million
 (25,000,000) Franklin Gold Fund - Class II shares
 are outstanding.  Twenty million (20,000,000)
 shares of the Corporation are therefore authorized
 but unallocated to a series.



4.	The foregoing Amendment to the Articles of
 Incorporation has been duly approved by the Board
 of Directors of Franklin Gold Fund.


5.	In accordance with Section 203.5 of the
 California General Corporation Law, the Articles
 of Incorporation confer upon the Board of Directors
 the authority to adopt an amendment to the Articles
 of Incorporation by approval of the Board alone in
 order to increase or decrease the number of shares
 of a series.  Accordingly, no shareholder vote is
 required for this decrease in the number of shares
 allocated to Franklin Gold Fund Class II series of
 Franklin Gold Fund Series class of shares of the
 Corporation.



		/s/ Deborah R. Gatzek

		Deborah R. Gatzek

		Vice President and Secretary


The undersigned declares under penalty of perjury that
 the matters set forth in the foregoing Certificate are
 true of her own knowledge.



Executed at San Mateo, California on  December 7, 1998



		/s/ Deborah R. Gatzek

		Deborah R. Gatzek

		Vice President and Secretary

wpdoc2\nsar\1999\132-77q(a).doc        2
                        3/4/99




NAME OF REGISTRANT:

Franklin Gold Fund

File No. 811-1700


EXHIBIT ITEM No. 77Q(d): Copies of all constituent instruments defining
 the rights of the holders of any new class of securities
 


FRANKLIN GOLD FUND


Certificate of Determination of Rights, Preferences

Privileges and Restrictions of the

Franklin Gold Fund - Class B Series

of Franklin Gold Fund Series Class


BY RESOLUTION OF THE BOARD OF DIRECTORS

		The undersigned, Vice President and Secretary of
 Franklin Gold Fund (the "Corporation"), a corporation organized
 and existing under the laws of the State of California, does
 hereby certify:

		1.	That she is the Vice President and Secretary
 of the Corporation.



		2.	That, pursuant to authority conferred upon the
 Board of Directors by the Articles of Incorporation of the Corporation,
 under the provisions of Section 401 of the Corporations Code of the
 State of California, the Board of Directors of the Corporation adopted
 the following resolutions fixing and determining the rights, preferences,
 privileges and restrictions of the "Franklin Gold Fund - Class B" series
 of the Franklin Gold Fund Series class of shares of the Corporation:


FURTHER RESOLVED, that a fourth series of shares of the Franklin Gold
 Fund Series class of shares of the Corporation ("Gold Fund"), no par
 value, is hereby established and designated as "Franklin Gold 
Fund-Class B" (each referred to herein as a "Class B share" or
 the "Class B shares") and twenty million (20,000,000) unissued
 shares previously authorized but not allocated to any series are
 hereby classified as and allocated to such new series; and it is


FURTHER RESOLVED, that each Class B share of the Gold Fund shall
 represent proportionate interests in the same portfolio of investments
 as the shares of the existing series of the Common Stock of the Gold Fund.
  Each Class B share shall have the same preferences, conversion or other
 rights, voting powers, restrictions, limitations as to dividends,
 qualifications or terms or conditions of redemption of the existing
 series of shares, all as set forth in the Corporation's charter,
 except for the differences hereinafter set forth:


(1)	(a) Dividends and distributions paid to holders of the Class B
 shares of Common Stock of a series shall be in such amounts as may be
 declared from time to time by the Board of Directors, and such dividends
 and distributions may vary with respect to such series from the dividends
 and distributions with respect to the other series of Common Stock of that
 class to reflect differing allocations of the expenses of the Corporation
 among the series, which shall include reductions for payments of fees
 under any 12b-1 Plan adopted for or relating to such Class B shares,
 and any resultant difference among the net asset values per share of
 the series, to such extent and for such purposes as the Board of
 Directors may deem appropriate; (b) Class B shares of a class shall
 have exclusive voting rights with respect to any matter submitted to
 a vote of shareholders that affects only holders of Class B shares of
 such class, including, without limitation, the provisions of any 12b-1
 Plan adopted for and relating to the Class B shares; and  (c) 
Class B shares shall not have voting rights with respect to the provisions
 of any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act
 applicable to any other series of the Gold Fund or with regard to any other
 matter submitted to a vote of shareholders which does not now or in the
 future affect the holders of the Class B shares.


(2)(a) Other than shares described in this paragraph (2)(a), each Class B
 share of the Gold Fund shall be converted automatically, and without any
 action or choice on the part of the holder thereof, into the series of 
the Gold Fund designated as "Franklin Gold Fund-Class I" 
(a "Class I share" or "Class I shares") on the Conversion Date.  The term
 "Conversion Date" means the date on which the eighth anniversary of the
 date of issuance of the share occurs; provided that, subject to the
 provisions of the next sentence, for any Class B shares of the Gold
 Fund acquired through an exchange, or through a series of exchanges,
 as permitted by the Corporation and as provided in the prospectus 
relating to Class B shares, as such prospectus may be amended from 
time to time ("Prospectus"), from another investment company or another
 class of the Corporation (an "eligible investment company"), the Conversion
 Date shall be the conversion date applicable to the shares of the eligible
 investment company originally subscribed for in lieu of the Conversion 
Date of any shares acquired through exchange if such eligible investment
 company issuing'the share originally subscribed for had a conversion
 feature, but not later than the Conversion Date determined as set forth
 above.  For the purpose of calculating the holding period required for
 conversion, the date of issuance of a Class B share of the Gold Fund 
shall mean (i) in the case of a Class B share of the Gold Fund obtained
 by the holder thereof through an original subscription to the Gold Fund,
 the date of the issuance of such Class B share of the Gold Fund, or (ii)
 in the case of a Class B share of the Gold Fund obtained by the holder
 thereof through an exchange, or through a series of exchanges, from an
 eligible investment company, the date of issuance of the share of the 
eligible investment company to which the holder originally subscribed.


(b)		Each Class B share of the Gold Fund (i) purchased
 through the automatic reinvestment of a dividend or distribution
 with respect to that Class B share or the corresponding series 
of any other investment company or of any other class of the 
Corporation issuing such series of shares, or (ii) issued pursuant
 to an exchange privilege granted by the Corporation in an exchange
 or series of exchanges for shares originally purchased through the
 automatic reinvestment of a dividend or distribution with respect
 to shares of an eligible investment company, shall be segregated
 in a separate sub-account on the share records of the Corporation
 for each of the holders of record thereof.  On any Conversion Date,
 a number of the shares held in the separate sub-account of the holder
 of record of the share or shares being converted, calculated in
 accordance with the next following sentence, shall be converted
 automatically, and without any action or choice on the part of the
 holder, into shares of Class I of the Gold Fund.  The number of
 shares in the holder's separate subaccount so converted shall
 (i) bear the same ratio to the total number of shares maintained
 in the separate sub-account on the Conversion Date 
(immediately prior to conversion) as the number of shares of the
 holder converted on the Conversion Date pursuant to paragraph 
(2)(a) hereof bears to the total number of Class B shares of the
 holder on the Conversion Date (immediately prior to conversion)
 after subtracting the shares then maintained in the holder's 
separate sub-account, or (ii) be such other number as may be 
calculated in such other manner as may be determined by the 
Board of Directors and set forth in the Prospectus.


(c)		The number of Class I shares of the Gold Fund 
into which a Class B share is converted pursuant to paragraphs
 2(a) and 2(b) hereof shall equal the number 
(including for this purpose fractions of a share) obtained by
 dividing the net asset value per share of such Class B share
 for purposes of sales and redemption thereof on the Conversion
 Date by the net asset value per share of the Class I shares of
 the same class for purposes of sales and redemption thereof on
 the Conversion Date.


(d)		On the Conversion Date, the Class B shares of a
 class converted into shares of Class I of the same class will no
 longer be deemed outstanding and the rights of the holders thereof
 (except the right to (i) receive the number of shares of Class I
 into which Class B shares have been converted and (ii) receive
 declared but unpaid dividends to the Conversion Date or such other
 date set forth in the Prospectus and (iii) vote converting 
Class B shares held as of any record date occurring on or before the
 Conversion Date and theretofore set with respect to any meeting held
 after the Conversion Date) will cease.  Certificates representing
 Class I shares of the Gold Fund resulting from the conversion need
 not be issued until certificates representing Class B shares converted,
 if issued, have been received by the Corporation or its agent duly
 endorsed for transfer.


(e)		The automatic conversion of the Class B shares of the
 Gold Fund into Class I shares of the Gold Fund, as set forth in
 paragraphs 2(a) and 2(b) hereof, may also be suspended by action
 of the Board of Directors at any time that the Board of Directors
 determines such suspension to be appropriate; and in connection
 with, or in lieu of, any such suspension, the Board of Directors
 may provide holders of the Class B shares with alternative conversion
 or exchange rights into other series of stock of the Corporation in
 a manner consistent with applicable law; and it is


FURTHER RESOLVED, that the proper officers of the Corporation are
 hereby authorized and directed to execute and file a Certificate
 of Amendment of the Articles of Incorporation, and a Certificate
 of Determination, with the Secretary of State of California and to
 take such additional actions as are hereby necessary to accomplish
 the intent of the foregoing resolutions.


3.     That the number of shares allocated to the
 "Franklin Gold Fund-Class B" series is twenty million (20,000,000).


4.     That none of the shares of such series has been issued.


	The undersigned declares under penalty of perjury that the
 statements contained in the foregoing certificate are true to her
 own knowledge.  Executed at San Mateo, California on December 7, 1998.




			/s/ Deborah R. Gatzek

			Deborah R. Gatzek

			Vice President and Secretary


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         5                       3/4/99






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