<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0404</schemaVersion>
  <headerData>
    <submissionType>N-CEN/A</submissionType>
    <accessionNumber>0001752724-19-141954</accessionNumber>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000083293</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <fileNumber>811-01700</fileNumber>
      </filer>
      <flags>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
    </filerInfo>
    <seriesClass>
      <reportSeriesClass>
        <rptIncludeAllSeriesFlag>true</rptIncludeAllSeriesFlag>
      </reportSeriesClass>
    </seriesClass>
  </headerData>
  <formData>
    <generalInfo isReportPeriodLt12="N" reportEndingPeriod="2019-07-31"/>
    <registrantInfo>
      <registrantFullName>Franklin Gold &amp; Precious Metals Fund</registrantFullName>
      <investmentCompFileNo>811-01700</investmentCompFileNo>
      <registrantCik>0000083293</registrantCik>
      <registrantLei>549300FU5CU8KFMKHU85</registrantLei>
      <registrantstreet1>ONE FRANKLIN PARKWAY</registrantstreet1>
      <registrantcity>SAN MATEO</registrantcity>
      <registrantzipCode>94403-1906</registrantzipCode>
      <registrantstate>US-CA</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>650-312-2000</registrantphoneNumber>
      <websites>
        <website webpage="franklintempleton.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>The Bank of New York Mellon</officeName>
          <officeAddress1>111 Sanders Creek Parkway</officeAddress1>
          <officeCity>East Syracuse</officeCity>
          <officeStateCountry officeState="US-NY" officeCountry="US"/>
          <officeRecordsZipCode>13057</officeRecordsZipCode>
          <officePhone>855-231-1706</officePhone>
          <booksRecordsDesc>Records related to its functions as Custodian</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Franklin Templeton Services, LLC</officeName>
          <officeAddress1>ONE FRANKLIN PARKWAY</officeAddress1>
          <officeCity>SAN MATEO</officeCity>
          <officeStateCountry officeState="US-CA" officeCountry="US"/>
          <officeRecordsZipCode>94403-1906</officeRecordsZipCode>
          <officePhone>650-312-2000</officePhone>
          <booksRecordsDesc>Records related to its functions as Administrative manager</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Franklin Templeton Investor Services, LLC</officeName>
          <officeAddress1>ONE FRANKLIN PARKWAY</officeAddress1>
          <officeCity>SAN MATEO</officeCity>
          <officeStateCountry officeState="US-CA" officeCountry="US"/>
          <officeRecordsZipCode>94403-1906</officeRecordsZipCode>
          <officePhone>650-312-6641</officePhone>
          <booksRecordsDesc>Records related to its functions as Transfer agent</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Franklin Advisers, Inc.</officeName>
          <officeAddress1>ONE FRANKLIN PARKWAY</officeAddress1>
          <officeCity>SAN MATEO</officeCity>
          <officeStateCountry officeState="US-CA" officeCountry="US"/>
          <officeRecordsZipCode>94403-1906</officeRecordsZipCode>
          <officePhone>650-312-2000</officePhone>
          <booksRecordsDesc>Records related to its functions as Investment manager</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Franklin Templeton Distributors, Inc.</officeName>
          <officeAddress1>ONE FRANKLIN PARKWAY</officeAddress1>
          <officeCity>SAN MATEO</officeCity>
          <officeStateCountry officeState="US-CA" officeCountry="US"/>
          <officeRecordsZipCode>94403-1906</officeRecordsZipCode>
          <officePhone>650-312-2000</officePhone>
          <booksRecordsDesc>Records related to its functions as Principal underwriter</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="Franklin Templeton Group of Funds"/>
      <registrantClassificationType>N-1A</registrantClassificationType>
      <totalSeries>1</totalSeries>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Rupert H. Johnson, Jr.</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-02790"/>
            <fileNumberInfo fileNumber="811-07876"/>
            <fileNumberInfo fileNumber="811-08034"/>
            <fileNumberInfo fileNumber="811-01608"/>
            <fileNumberInfo fileNumber="811-07288"/>
            <fileNumberInfo fileNumber="811-02605"/>
            <fileNumberInfo fileNumber="811-04985"/>
            <fileNumberInfo fileNumber="811-10157"/>
            <fileNumberInfo fileNumber="811-05583"/>
            <fileNumberInfo fileNumber="811-04894"/>
            <fileNumberInfo fileNumber="811-04356"/>
            <fileNumberInfo fileNumber="811-08394"/>
            <fileNumberInfo fileNumber="811-04892"/>
            <fileNumberInfo fileNumber="811-07866"/>
            <fileNumberInfo fileNumber="811-06336"/>
            <fileNumberInfo fileNumber="811-06243"/>
            <fileNumberInfo fileNumber="811-01700"/>
            <fileNumberInfo fileNumber="811-02781"/>
            <fileNumberInfo fileNumber="811-07038"/>
            <fileNumberInfo fileNumber="811-21357"/>
            <fileNumberInfo fileNumber="811-03395"/>
            <fileNumberInfo fileNumber="811-08962"/>
            <fileNumberInfo fileNumber="811-06135"/>
            <fileNumberInfo fileNumber="811-06481"/>
            <fileNumberInfo fileNumber="811-05569"/>
            <fileNumberInfo fileNumber="811-06378"/>
            <fileNumberInfo fileNumber="811-04986"/>
            <fileNumberInfo fileNumber="811-04149"/>
            <fileNumberInfo fileNumber="811-00537"/>
            <fileNumberInfo fileNumber="811-03479"/>
            <fileNumberInfo fileNumber="811-03143"/>
            <fileNumberInfo fileNumber="811-04787"/>
            <fileNumberInfo fileNumber="811-08226"/>
            <fileNumberInfo fileNumber="811-05459"/>
            <fileNumberInfo fileNumber="811-07851"/>
            <fileNumberInfo fileNumber="811-04267"/>
            <fileNumberInfo fileNumber="811-09869"/>
            <fileNumberInfo fileNumber="811-04706"/>
            <fileNumberInfo fileNumber="811-04450"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Terrence J. Checki</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-01700"/>
            <fileNumberInfo fileNumber="811-21357"/>
            <fileNumberInfo fileNumber="811-10157"/>
            <fileNumberInfo fileNumber="811-04450"/>
            <fileNumberInfo fileNumber="811-04356"/>
            <fileNumberInfo fileNumber="811-07851"/>
            <fileNumberInfo fileNumber="811-02605"/>
            <fileNumberInfo fileNumber="811-02790"/>
            <fileNumberInfo fileNumber="811-04267"/>
            <fileNumberInfo fileNumber="811-06336"/>
            <fileNumberInfo fileNumber="811-00537"/>
            <fileNumberInfo fileNumber="811-04986"/>
            <fileNumberInfo fileNumber="811-04787"/>
            <fileNumberInfo fileNumber="811-07038"/>
            <fileNumberInfo fileNumber="811-06243"/>
            <fileNumberInfo fileNumber="811-08034"/>
            <fileNumberInfo fileNumber="811-03479"/>
            <fileNumberInfo fileNumber="811-08962"/>
            <fileNumberInfo fileNumber="811-05569"/>
            <fileNumberInfo fileNumber="811-04894"/>
            <fileNumberInfo fileNumber="811-09869"/>
            <fileNumberInfo fileNumber="811-07288"/>
            <fileNumberInfo fileNumber="811-05583"/>
            <fileNumberInfo fileNumber="811-03395"/>
            <fileNumberInfo fileNumber="811-01608"/>
            <fileNumberInfo fileNumber="811-04149"/>
            <fileNumberInfo fileNumber="811-06481"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Larry D. Thompson</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-08226"/>
            <fileNumberInfo fileNumber="811-08034"/>
            <fileNumberInfo fileNumber="811-04450"/>
            <fileNumberInfo fileNumber="811-06135"/>
            <fileNumberInfo fileNumber="811-07866"/>
            <fileNumberInfo fileNumber="811-03395"/>
            <fileNumberInfo fileNumber="811-08962"/>
            <fileNumberInfo fileNumber="811-04267"/>
            <fileNumberInfo fileNumber="811-01700"/>
            <fileNumberInfo fileNumber="811-06336"/>
            <fileNumberInfo fileNumber="811-05569"/>
            <fileNumberInfo fileNumber="811-01608"/>
            <fileNumberInfo fileNumber="811-06378"/>
            <fileNumberInfo fileNumber="811-04706"/>
            <fileNumberInfo fileNumber="811-04356"/>
            <fileNumberInfo fileNumber="811-07288"/>
            <fileNumberInfo fileNumber="811-06243"/>
            <fileNumberInfo fileNumber="811-04149"/>
            <fileNumberInfo fileNumber="811-05459"/>
            <fileNumberInfo fileNumber="811-07876"/>
            <fileNumberInfo fileNumber="811-21357"/>
            <fileNumberInfo fileNumber="811-08394"/>
            <fileNumberInfo fileNumber="811-04894"/>
            <fileNumberInfo fileNumber="811-04892"/>
            <fileNumberInfo fileNumber="811-02781"/>
            <fileNumberInfo fileNumber="811-04985"/>
            <fileNumberInfo fileNumber="811-03143"/>
            <fileNumberInfo fileNumber="811-02790"/>
            <fileNumberInfo fileNumber="811-06481"/>
            <fileNumberInfo fileNumber="811-04986"/>
            <fileNumberInfo fileNumber="811-09869"/>
            <fileNumberInfo fileNumber="811-10157"/>
            <fileNumberInfo fileNumber="811-07851"/>
            <fileNumberInfo fileNumber="811-05583"/>
            <fileNumberInfo fileNumber="811-02605"/>
            <fileNumberInfo fileNumber="811-00537"/>
            <fileNumberInfo fileNumber="811-03479"/>
            <fileNumberInfo fileNumber="811-04787"/>
            <fileNumberInfo fileNumber="811-07038"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Harris J. Ashton</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-06135"/>
            <fileNumberInfo fileNumber="811-04706"/>
            <fileNumberInfo fileNumber="811-07038"/>
            <fileNumberInfo fileNumber="811-08394"/>
            <fileNumberInfo fileNumber="811-04356"/>
            <fileNumberInfo fileNumber="811-06378"/>
            <fileNumberInfo fileNumber="811-05459"/>
            <fileNumberInfo fileNumber="811-05569"/>
            <fileNumberInfo fileNumber="811-02605"/>
            <fileNumberInfo fileNumber="811-06243"/>
            <fileNumberInfo fileNumber="811-04267"/>
            <fileNumberInfo fileNumber="811-04450"/>
            <fileNumberInfo fileNumber="811-08034"/>
            <fileNumberInfo fileNumber="811-04892"/>
            <fileNumberInfo fileNumber="811-03143"/>
            <fileNumberInfo fileNumber="811-05583"/>
            <fileNumberInfo fileNumber="811-01608"/>
            <fileNumberInfo fileNumber="811-06481"/>
            <fileNumberInfo fileNumber="811-08962"/>
            <fileNumberInfo fileNumber="811-02790"/>
            <fileNumberInfo fileNumber="811-04787"/>
            <fileNumberInfo fileNumber="811-08226"/>
            <fileNumberInfo fileNumber="811-06336"/>
            <fileNumberInfo fileNumber="811-04985"/>
            <fileNumberInfo fileNumber="811-07876"/>
            <fileNumberInfo fileNumber="811-09869"/>
            <fileNumberInfo fileNumber="811-04894"/>
            <fileNumberInfo fileNumber="811-03395"/>
            <fileNumberInfo fileNumber="811-10157"/>
            <fileNumberInfo fileNumber="811-04986"/>
            <fileNumberInfo fileNumber="811-01700"/>
            <fileNumberInfo fileNumber="811-02781"/>
            <fileNumberInfo fileNumber="811-07288"/>
            <fileNumberInfo fileNumber="811-21357"/>
            <fileNumberInfo fileNumber="811-07851"/>
            <fileNumberInfo fileNumber="811-00537"/>
            <fileNumberInfo fileNumber="811-07866"/>
            <fileNumberInfo fileNumber="811-03479"/>
            <fileNumberInfo fileNumber="811-04149"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Gregory E. Johnson</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-05878"/>
            <fileNumberInfo fileNumber="811-21357"/>
            <fileNumberInfo fileNumber="811-01700"/>
            <fileNumberInfo fileNumber="811-07288"/>
            <fileNumberInfo fileNumber="811-02790"/>
            <fileNumberInfo fileNumber="811-04986"/>
            <fileNumberInfo fileNumber="811-04450"/>
            <fileNumberInfo fileNumber="811-04985"/>
            <fileNumberInfo fileNumber="811-04894"/>
            <fileNumberInfo fileNumber="811-00537"/>
            <fileNumberInfo fileNumber="811-04356"/>
            <fileNumberInfo fileNumber="811-05583"/>
            <fileNumberInfo fileNumber="811-04706"/>
            <fileNumberInfo fileNumber="811-08034"/>
            <fileNumberInfo fileNumber="811-07038"/>
            <fileNumberInfo fileNumber="811-04787"/>
            <fileNumberInfo fileNumber="811-03395"/>
            <fileNumberInfo fileNumber="811-10157"/>
            <fileNumberInfo fileNumber="811-07851"/>
            <fileNumberInfo fileNumber="811-06481"/>
            <fileNumberInfo fileNumber="811-02781"/>
            <fileNumberInfo fileNumber="811-08394"/>
            <fileNumberInfo fileNumber="811-04267"/>
            <fileNumberInfo fileNumber="811-03143"/>
            <fileNumberInfo fileNumber="811-07866"/>
            <fileNumberInfo fileNumber="811-22641"/>
            <fileNumberInfo fileNumber="811-04892"/>
            <fileNumberInfo fileNumber="811-02605"/>
            <fileNumberInfo fileNumber="811-05459"/>
            <fileNumberInfo fileNumber="811-07876"/>
            <fileNumberInfo fileNumber="811-05387"/>
            <fileNumberInfo fileNumber="811-06378"/>
            <fileNumberInfo fileNumber="811-05569"/>
            <fileNumberInfo fileNumber="811-03479"/>
            <fileNumberInfo fileNumber="811-01608"/>
            <fileNumberInfo fileNumber="811-08962"/>
            <fileNumberInfo fileNumber="811-04149"/>
            <fileNumberInfo fileNumber="811-06135"/>
            <fileNumberInfo fileNumber="811-08226"/>
            <fileNumberInfo fileNumber="811-06336"/>
            <fileNumberInfo fileNumber="811-06243"/>
            <fileNumberInfo fileNumber="811-09869"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Edith E. Holiday</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-04787"/>
            <fileNumberInfo fileNumber="811-04149"/>
            <fileNumberInfo fileNumber="811-08394"/>
            <fileNumberInfo fileNumber="811-07866"/>
            <fileNumberInfo fileNumber="811-04450"/>
            <fileNumberInfo fileNumber="811-07288"/>
            <fileNumberInfo fileNumber="811-09869"/>
            <fileNumberInfo fileNumber="811-05569"/>
            <fileNumberInfo fileNumber="811-04267"/>
            <fileNumberInfo fileNumber="811-02781"/>
            <fileNumberInfo fileNumber="811-04356"/>
            <fileNumberInfo fileNumber="811-06378"/>
            <fileNumberInfo fileNumber="811-06336"/>
            <fileNumberInfo fileNumber="811-07038"/>
            <fileNumberInfo fileNumber="811-06243"/>
            <fileNumberInfo fileNumber="811-08962"/>
            <fileNumberInfo fileNumber="811-04892"/>
            <fileNumberInfo fileNumber="811-01608"/>
            <fileNumberInfo fileNumber="811-04706"/>
            <fileNumberInfo fileNumber="811-06135"/>
            <fileNumberInfo fileNumber="811-21357"/>
            <fileNumberInfo fileNumber="811-05459"/>
            <fileNumberInfo fileNumber="811-08034"/>
            <fileNumberInfo fileNumber="811-10157"/>
            <fileNumberInfo fileNumber="811-05583"/>
            <fileNumberInfo fileNumber="811-01700"/>
            <fileNumberInfo fileNumber="811-06481"/>
            <fileNumberInfo fileNumber="811-03143"/>
            <fileNumberInfo fileNumber="811-02605"/>
            <fileNumberInfo fileNumber="811-00537"/>
            <fileNumberInfo fileNumber="811-03479"/>
            <fileNumberInfo fileNumber="811-04894"/>
            <fileNumberInfo fileNumber="811-02790"/>
            <fileNumberInfo fileNumber="811-07851"/>
            <fileNumberInfo fileNumber="811-04986"/>
            <fileNumberInfo fileNumber="811-03395"/>
            <fileNumberInfo fileNumber="811-04985"/>
            <fileNumberInfo fileNumber="811-08226"/>
            <fileNumberInfo fileNumber="811-07876"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>J. Michael Luttig</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-04149"/>
            <fileNumberInfo fileNumber="811-07288"/>
            <fileNumberInfo fileNumber="811-04892"/>
            <fileNumberInfo fileNumber="811-03143"/>
            <fileNumberInfo fileNumber="811-06378"/>
            <fileNumberInfo fileNumber="811-01608"/>
            <fileNumberInfo fileNumber="811-05569"/>
            <fileNumberInfo fileNumber="811-06336"/>
            <fileNumberInfo fileNumber="811-08034"/>
            <fileNumberInfo fileNumber="811-00537"/>
            <fileNumberInfo fileNumber="811-21357"/>
            <fileNumberInfo fileNumber="811-08394"/>
            <fileNumberInfo fileNumber="811-07876"/>
            <fileNumberInfo fileNumber="811-04985"/>
            <fileNumberInfo fileNumber="811-06135"/>
            <fileNumberInfo fileNumber="811-09869"/>
            <fileNumberInfo fileNumber="811-10157"/>
            <fileNumberInfo fileNumber="811-03395"/>
            <fileNumberInfo fileNumber="811-04894"/>
            <fileNumberInfo fileNumber="811-08226"/>
            <fileNumberInfo fileNumber="811-04356"/>
            <fileNumberInfo fileNumber="811-06243"/>
            <fileNumberInfo fileNumber="811-04787"/>
            <fileNumberInfo fileNumber="811-07851"/>
            <fileNumberInfo fileNumber="811-06481"/>
            <fileNumberInfo fileNumber="811-02790"/>
            <fileNumberInfo fileNumber="811-04986"/>
            <fileNumberInfo fileNumber="811-05583"/>
            <fileNumberInfo fileNumber="811-02605"/>
            <fileNumberInfo fileNumber="811-03479"/>
            <fileNumberInfo fileNumber="811-07038"/>
            <fileNumberInfo fileNumber="811-04450"/>
            <fileNumberInfo fileNumber="811-04706"/>
            <fileNumberInfo fileNumber="811-04267"/>
            <fileNumberInfo fileNumber="811-07866"/>
            <fileNumberInfo fileNumber="811-05459"/>
            <fileNumberInfo fileNumber="811-08962"/>
            <fileNumberInfo fileNumber="811-01700"/>
            <fileNumberInfo fileNumber="811-02781"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Mary C. Choksi</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-02605"/>
            <fileNumberInfo fileNumber="811-06135"/>
            <fileNumberInfo fileNumber="811-02790"/>
            <fileNumberInfo fileNumber="811-21357"/>
            <fileNumberInfo fileNumber="811-06336"/>
            <fileNumberInfo fileNumber="811-08962"/>
            <fileNumberInfo fileNumber="811-04894"/>
            <fileNumberInfo fileNumber="811-04787"/>
            <fileNumberInfo fileNumber="811-04356"/>
            <fileNumberInfo fileNumber="811-08034"/>
            <fileNumberInfo fileNumber="811-10157"/>
            <fileNumberInfo fileNumber="811-03395"/>
            <fileNumberInfo fileNumber="811-02781"/>
            <fileNumberInfo fileNumber="811-06243"/>
            <fileNumberInfo fileNumber="811-05569"/>
            <fileNumberInfo fileNumber="811-04706"/>
            <fileNumberInfo fileNumber="811-07876"/>
            <fileNumberInfo fileNumber="811-03143"/>
            <fileNumberInfo fileNumber="811-08394"/>
            <fileNumberInfo fileNumber="811-04986"/>
            <fileNumberInfo fileNumber="811-05459"/>
            <fileNumberInfo fileNumber="811-06378"/>
            <fileNumberInfo fileNumber="811-06481"/>
            <fileNumberInfo fileNumber="811-01608"/>
            <fileNumberInfo fileNumber="811-01700"/>
            <fileNumberInfo fileNumber="811-07866"/>
            <fileNumberInfo fileNumber="811-04892"/>
            <fileNumberInfo fileNumber="811-07851"/>
            <fileNumberInfo fileNumber="811-00537"/>
            <fileNumberInfo fileNumber="811-08226"/>
            <fileNumberInfo fileNumber="811-07288"/>
            <fileNumberInfo fileNumber="811-09869"/>
            <fileNumberInfo fileNumber="811-04985"/>
            <fileNumberInfo fileNumber="811-05583"/>
            <fileNumberInfo fileNumber="811-04450"/>
            <fileNumberInfo fileNumber="811-04149"/>
            <fileNumberInfo fileNumber="811-07038"/>
            <fileNumberInfo fileNumber="811-03479"/>
            <fileNumberInfo fileNumber="811-04267"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Robert C. Rosselot</ccoName>
          <crdNumber>N/A</crdNumber>
          <ccoStreet1>300 S.E. 2nd Street</ccoStreet1>
          <ccoCity>Fort Lauderdale</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-FL"/>
          <ccoZipCode>33301-1923</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerId="N/A" ccoEmployerName="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <releaseNumbers isExemptionFromAct="Y">
        <releaseNumberInfo releaseNumber="IC-33117"/>
        <releaseNumberInfo releaseNumber="IC-32722"/>
        <releaseNumberInfo releaseNumber="IC-15534"/>
      </releaseNumbers>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>FRANKLIN TEMPLETON DISTRIBUTORS, INC.</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-5889</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000000332</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-CA"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>PRICEWATERHOUSECOOPERS LLP</publicAccountantName>
          <pcaobNumber>238</pcaobNumber>
          <publicAccountantLei>5493002GVO7EO8RNNS37</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantState="US-CA" publicAccountantCountry="US"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <isPaymentDividend>N</isPaymentDividend>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Franklin Gold and Precious Metals Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000006839</mgmtInvSeriesId>
        <mgmtInvLei>549300FU5CU8KFMKHU85</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class R6" sharesOutstandingClassId="C000128741" sharesOutstandingTickerSymbol="FGPMX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000018486" sharesOutstandingTickerSymbol="FKRCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000018488" sharesOutstandingTickerSymbol="FRGOX"/>
          <sharesOutstanding sharesOutstandingClassName="Advisor Class" sharesOutstandingClassId="C000018489" sharesOutstandingTickerSymbol="FGADX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>The Bank of New York Mellon</securitiesAgentName>
            <securitiesAgentLei>HPFHU0OQ28E4N0NFVK49</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderLei="N/A" idemnityProviderName="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerLei="5493005DRTG4H4KKYJ69" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="Y" collateralManagerName="Franklin Templeton Investments Corp"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Franklin Advisers, Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-26292</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000104517</investmentAdviserCrdNo>
            <investmentAdviserLei>B1CG1NRZIDDJ0DQEXB52</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserCountry="US" investmentAdviserState="US-CA"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Franklin Templeton Investor Services, LLC</transferAgentName>
            <transferAgentFileNo>084-01036</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentCountry="US" transferAgentState="US-CA"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg Finance L.P.</pricingServiceName>
            <pricingServiceLei>5493001KJTIIGC8Y1R12</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceCountry="US" pricingServiceState="US-DE"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceCountry="US" pricingServiceState="US-NY"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv US LLC</pricingServiceName>
            <pricingServiceLei>549300WQWDPFSMQ8I087</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceCountry="US" pricingServiceState="US-DE"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
            <pricingServiceLei>5493000F4ZO33MV32P92</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceCountry="US" pricingServiceState="US-GA"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Scandinaviska Enskilda Banken</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>FI</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Bank of New York Mellon SA/NV</custodianName>
            <custodianLei>529900SEOICVR2VM6Y05</custodianLei>
            <custodianCountry>NL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>SE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>CIBC Mellon Trust Company</custodianName>
            <custodianLei>549300IYUUH221WBZ505</custodianLei>
            <custodianCountry>CA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Hong Kong and Shanghai Banking Corp Ltd.</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>NZ</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank Argentina</custodianName>
            <custodianLei>E57ODZWZ7FF32TWEFA76</custodianLei>
            <custodianCountry>AR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>DBS Bank Ltd.</custodianName>
            <custodianLei>ATUEL7OJR5057F2PV266</custodianLei>
            <custodianCountry>SG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank Europe PLC</custodianName>
            <custodianLei>N1FBEDJ5J41VKZLO2475</custodianLei>
            <custodianCountry>PT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>FR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Bilbao Vizcaya Argentaria</custodianName>
            <custodianLei>K8MS7FD7N5Z2WQ51AZ71</custodianLei>
            <custodianCountry>ES</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>DK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Bank of New York Mellon</custodianName>
            <custodianLei>N/A</custodianLei>
            <custodianCountry>IE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Bank of New York Mellon</custodianName>
            <custodianLei>RR3QWICWWIPCS8A4S074</custodianLei>
            <custodianCountry>GB</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank (China) Company Limited</custodianName>
            <custodianLei>2CZOJRADNJXBLT55G526</custodianLei>
            <custodianCountry>CN</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Bank of Tokyo-Mitsubishi UFJ Ltd.</custodianName>
            <custodianLei>N/A</custodianLei>
            <custodianCountry>JP</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Bank of NY Mellon SA/NV</custodianName>
            <custodianLei>MMYX0N4ZEZ13Z4XCG897</custodianLei>
            <custodianCountry>DE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Bank of New York Mellon SA/NV</custodianName>
            <custodianLei>N/A</custodianLei>
            <custodianCountry>IT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>THE BANK OF NEW YORK MELLON</custodianName>
            <custodianLei>HPFHU0OQ28E4N0NFVK49</custodianLei>
            <custodianStateCountry custodianCountry="US" custodianState="US-NY"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>NO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank, N.A. Sucursal de Lima</custodianName>
            <custodianLei>MYTK5NHHP1G8TVFGT193</custodianLei>
            <custodianCountry>PE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>FRANKLIN TEMPLETON INVESTOR SERVICES LLC</custodianName>
            <custodianLei>N/A</custodianLei>
            <custodianStateCountry custodianCountry="US" custodianState="US-CA"/>
            <isCustodianAffiliated>Y</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Self - rule 17f-2 (17 CFR 270.17f-2)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Hong Kong and Shanghai Banking Corporation</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>HK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Bank of South Africa</custodianName>
            <custodianLei>QFC8ZCW3Q5PRXU1XTM60</custodianLei>
            <custodianCountry>ZA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank Europe PLC</custodianName>
            <custodianLei>N1FBEDJ5J41VKZLO2475</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear Bank</custodianName>
            <custodianLei>N/A</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Hongkong and Shanghai Banking Corporation</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>TH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibanamex</custodianName>
            <custodianLei>2SFFM4FUIE05S37WFU55</custodianLei>
            <custodianCountry>MX</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The HongKong and Shanghai Banking Corporation Limited</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>AU</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Hongkong and Shanghai Banking Corporation</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>LK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Credit Suisse AG</custodianName>
            <custodianLei>549300CWR0W0BCS9Q144</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>529900LKVNEX4SG4UD38</custodianLei>
            <custodianCountry>PH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>FRANKLIN TEMPLETON INVESTOR SERVICES, LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-01036</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentCountry="US" shareholderServiceAgentState="US-CA"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Franklin Templeton Services, LLC</adminName>
            <adminLei>549300DFD0POOJZ42788</adminLei>
            <adminStateCountry adminState="US-CA" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>FRANKLIN TEMPLETON INVESTMENT SERVICES, INC.</brokerDealerName>
            <brokerDealerFileNo>008-43206</brokerDealerFileNo>
            <brokerDealerCrdNo>000027884</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-CA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>FRANKLIN TEMPLETON DISTRIBUTORS INC.</brokerDealerName>
            <brokerDealerFileNo>008-05889</brokerDealerFileNo>
            <brokerDealerCrdNo>000000332</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-CA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>FRANKLIN TEMPLETON FINANCIAL SERVICES CORP.</brokerDealerName>
            <brokerDealerFileNo>008-29504</brokerDealerFileNo>
            <brokerDealerCrdNo>000013594</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-CA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN, SACHS &amp; CO</brokerName>
            <brokerFileNo>008-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>549300K06R9ZUC3UEN80</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>71898</grossCommission>
          </broker>
          <broker>
            <brokerName>JP MORGAN SECURITIES LLC</brokerName>
            <brokerFileNo>008-35008</brokerFileNo>
            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>21922</grossCommission>
          </broker>
          <broker>
            <brokerName>MORGAN STANLEY &amp; CO INC</brokerName>
            <brokerFileNo>008-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>I7331LVCZKQKX5T7XV54</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>75654</grossCommission>
          </broker>
          <broker>
            <brokerName>CITIGROUP GLOBAL MARKETS INC</brokerName>
            <brokerFileNo>008-08177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>26149</grossCommission>
          </broker>
          <broker>
            <brokerName>RBC DOMINION SECURITIES INC.</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>549300QJJX6CVVUXLE15</brokerLei>
            <brokerCountry>CA</brokerCountry>
            <grossCommission>88078</grossCommission>
          </broker>
          <broker>
            <brokerName>ROSENBLATT SECS INC</brokerName>
            <brokerFileNo>008-24255</brokerFileNo>
            <brokerCrdNo>000018377</brokerCrdNo>
            <brokerLei>549300KXQP6H4QO07E91</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>36843</grossCommission>
          </broker>
          <broker>
            <brokerName>NESBITT BURNS SECURITIES INC.</brokerName>
            <brokerFileNo>008-50538</brokerFileNo>
            <brokerCrdNo>000044057</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerCountry>CA</brokerCountry>
            <grossCommission>259141</grossCommission>
          </broker>
          <broker>
            <brokerName>U.S. BANCORP PIPER JAFFRAY INC.</brokerName>
            <brokerFileNo>008-15204</brokerFileNo>
            <brokerCrdNo>000000665</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerStateCountry brokerState="US-MN" brokerCountry="US"/>
            <grossCommission>24484</grossCommission>
          </broker>
          <broker>
            <brokerName>CIBC WORLD MARKETS CORP</brokerName>
            <brokerFileNo>008-18333</brokerFileNo>
            <brokerCrdNo>000000630</brokerCrdNo>
            <brokerLei>2IGI19DL77OX0HC3ZE78</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>63968</grossCommission>
          </broker>
          <broker>
            <brokerName>CREDIT SUISSE HOLDINGS (USA), INC.</brokerName>
            <brokerFileNo>008-00422</brokerFileNo>
            <brokerCrdNo>000000816</brokerCrdNo>
            <brokerLei>1V8Y6QCX6YMJ2OELII46</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>134812</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>968679</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BELL POTTER SECURITIES LIMITED</principalName>
            <principalFileNo>008-69991</principalFileNo>
            <principalCrdNo>000289328</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>2131668</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>DEUTSCHE BANK SECURITIES INC.</principalName>
            <principalFileNo>008-17822</principalFileNo>
            <principalCrdNo>000002525</principalCrdNo>
            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>4638452</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GRIFFITHS MCBURNEY</principalName>
            <principalFileNo>008-49139</principalFileNo>
            <principalCrdNo>000040620</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalCountry>CA</principalCountry>
            <principalTotalPurchaseSale>2611551</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC DOMINION SECURITIES INC. (TORONTO)</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>549300QJJX6CVVUXLE15</principalLei>
            <principalCountry>CA</principalCountry>
            <principalTotalPurchaseSale>679143</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>NESBITT BURNS SECURITIES INC</principalName>
            <principalFileNo>008-50538</principalFileNo>
            <principalCrdNo>000044057</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalCountry>CA</principalCountry>
            <principalTotalPurchaseSale>1735565</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CIBC WORLD MARKETS CORP</principalName>
            <principalFileNo>008-18333</principalFileNo>
            <principalCrdNo>000000630</principalCrdNo>
            <principalLei>2IGI19DL77OX0HC3ZE78</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>2366415</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RAYMOND JAMES &amp; ASSOCIATES INC RBC</principalName>
            <principalFileNo>008-10999</principalFileNo>
            <principalCrdNo>000000705</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-FL"/>
            <principalTotalPurchaseSale>1148325</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>ARGONAUT SECURITIES</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>213800WD22EFMZ5NUC40</principalLei>
            <principalStateCountry principalCountry="US" principalState="US-NY"/>
            <principalTotalPurchaseSale>363065</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CORMARK SECURITIES</principalName>
            <principalFileNo>008-52049</principalFileNo>
            <principalCrdNo>000101000</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalCountry>CA</principalCountry>
            <principalTotalPurchaseSale>1042931</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>16717115</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>779219060</mnthlyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Committed</isCreditLineCommitted>
              <lineOfCreditSize>2000000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="ROYAL BANK OF CANADA"/>
                <lineOfCreditInstitution creditInstitutionName="CITIBANK, N.A."/>
                <lineOfCreditInstitution creditInstitutionName="STANDARD CHARTERED BANK"/>
                <lineOfCreditInstitution creditInstitutionName="STATE STREET BANK AND TRUST COMPANY"/>
                <lineOfCreditInstitution creditInstitutionName="DEUTSCHE BANK AG"/>
                <lineOfCreditInstitution creditInstitutionName="BARCLAYS BANK PLC"/>
                <lineOfCreditInstitution creditInstitutionName="HSBC BANK USA, N.A."/>
                <lineOfCreditInstitution creditInstitutionName="BANCO BILBAO VIZCAYA ARGENTARIA"/>
                <lineOfCreditInstitution creditInstitutionName="THE TORONTO-DOMINION BANK"/>
                <lineOfCreditInstitution creditInstitutionName="THE BANK OF NOVA SCOTIA"/>
                <lineOfCreditInstitution creditInstitutionName="JPMORGAN CHASE BANK, N.A."/>
                <lineOfCreditInstitution creditInstitutionName="BANK OF AMERICA, N.A."/>
                <lineOfCreditInstitution creditInstitutionName="CREDIT SUISSE AG"/>
                <lineOfCreditInstitution creditInstitutionName="MORGAN STANLEY BANK, N.A."/>
                <lineOfCreditInstitution creditInstitutionName="THE BANK OF NEW YORK MELLON"/>
                <lineOfCreditInstitution creditInstitutionName="UMB BANK, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser secFileNo="811-01608" fundName="Franklin High Income Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Income VIP Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Strategic Income VIP Fund"/>
                <creditUser secFileNo="811-06481" fundName="Franklin Tennessee Municipal Bond Fund"/>
                <creditUser secFileNo="811-08226" fundName="Templeton Emerging Markets Balanced Fund"/>
                <creditUser secFileNo="811-05583" fundName="Templeton Developing Markets VIP Fund"/>
                <creditUser secFileNo="811-04706" fundName="Templeton International Bond Fund"/>
                <creditUser secFileNo="811-06135" fundName="Global Equity Series"/>
                <creditUser secFileNo="811-04149" fundName="Franklin High Yield Tax Free Income Fund"/>
                <creditUser secFileNo="811-03143" fundName="Templeton Global Smaller Companies Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Kentucky Tax Free Income Fund"/>
                <creditUser secFileNo="811-05387" fundName="Franklin Mutual Quest Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Minnesota Tax Free Income Fund"/>
                <creditUser secFileNo="811-04706" fundName="Templeton Emerging Markets Bond Fund"/>
                <creditUser secFileNo="811-03395" fundName="Franklin Federal Tax Free Income Fund"/>
                <creditUser secFileNo="811-04986" fundName="Franklin Total Return Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Florida Tax Free Income Fund"/>
                <creditUser secFileNo="811-07288" fundName="Franklin Strategic Mortgage Portfolio"/>
                <creditUser secFileNo="811-04787" fundName="Franklin New York Intermediate Term Tax Free Income Fund"/>
                <creditUser secFileNo="811-00537" fundName="Franklin DynaTech Fund"/>
                <creditUser secFileNo="811-22641" fundName="Franklin K2 Long Short Credit Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Missouri Tax Free Income Fund"/>
                <creditUser secFileNo="811-04986" fundName="Franklin Equity Income Fund"/>
                <creditUser secFileNo="811-04986" fundName="Franklin Low Duration Total Return Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin Moderate Allocation Fund"/>
                <creditUser secFileNo="811-22641" fundName="Franklin Pelagos Commodities Strategy Fund"/>
                <creditUser secFileNo="811-06243" fundName="Franklin Small Mid Cap Growth Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Michigan Tax Free Income Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin U.S. Government Securities VIP Fund"/>
                <creditUser secFileNo="811-09869" fundName="Franklin Floating Rate Master Series"/>
                <creditUser secFileNo="811-04986" fundName="Franklin Adjustable U.S. Government Securities Fund"/>
                <creditUser secFileNo="811-06135" fundName="Foreign Smaller Companies Series"/>
                <creditUser secFileNo="811-22641" fundName="Franklin K2 Alternative Strategies Fund"/>
                <creditUser secFileNo="811-04450" fundName="Templeton Global Currency Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Large Cap Growth VIP Fund"/>
                <creditUser secFileNo="811-04706" fundName="Templeton Global Total Return Fund"/>
                <creditUser secFileNo="811-04986" fundName="Franklin Convertible Securities Fund"/>
                <creditUser secFileNo="811-08226" fundName="Templeton Dynamic Equity Fund"/>
                <creditUser secFileNo="811-04986" fundName="Franklin Managed Income fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Massachusetts Tax Free Income Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin VolSmart Allocation VIP Fund"/>
                <creditUser secFileNo="811-08034" fundName="Franklin Real Estate Securities Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Rising Dividends VIP Fund"/>
                <creditUser secFileNo="811-04986" fundName="Franklin Floating Rate Daily Access Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin NextStep Moderate Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin LifeSmart 2030 Retirement Target Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Allocation VIP Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin NextStep Growth Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin Conservative Allocation Fund"/>
                <creditUser secFileNo="811-04986" fundName="Franklin Real Return Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin LifeSmart 2050 Retirement Target Fund"/>
                <creditUser secFileNo="811-08226" fundName="Templeton Frontier Markets Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin Payout 2019 Fund"/>
                <creditUser secFileNo="811-05387" fundName="Franklin Mutual Global Discovery Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin Payout 2020 Fund"/>
                <creditUser secFileNo="811-22641" fundName="Franklin K2 Global Macro Opportunities Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin LifeSmart 2020 Retirement Target Fund"/>
                <creditUser secFileNo="811-10157" fundName="Franklin Emerging Market Debt Opportunities Fund"/>
                <creditUser secFileNo="811-04706" fundName="Templeton Global Bond Fund"/>
                <creditUser secFileNo="811-05878" fundName="Franklin MicroCap Value Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Federal Limited Term Tax Free Income Fund"/>
                <creditUser secFileNo="811-05387" fundName="Franklin Mutual Shares Fund"/>
                <creditUser secFileNo="811-06243" fundName="Franklin Flexible Alpha Bond Fund"/>
                <creditUser secFileNo="811-00537" fundName="Franklin U.S. Government Securities Fund"/>
                <creditUser secFileNo="811-05583" fundName="Templeton Global Bond VIP Fund"/>
                <creditUser secFileNo="811-00537" fundName="Franklin Income Fund"/>
                <creditUser secFileNo="811-08226" fundName="Templeton Emerging Markets Small Cap Fund"/>
                <creditUser secFileNo="811-05878" fundName="Franklin Small Cap Value Fund"/>
                <creditUser secFileNo="811-05387" fundName="Franklin Mutual Financial Services Fund"/>
                <creditUser secFileNo="811-03479" fundName="Franklin New York Tax Free Income Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Louisiana Tax Free Income Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin LifeSmart Retirement Income Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Alabama Tax Free Income Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin LifeSmart 2025 Retirement Target Fund"/>
                <creditUser secFileNo="811-06243" fundName="Franklin Small Cap Growth Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Flex Cap Growth VIP Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Growth and Income VIP Fund"/>
                <creditUser secFileNo="811-05583" fundName="Templeton Foreign VIP Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Mutual Shares VIP Fund"/>
                <creditUser secFileNo="811-00537" fundName="Franklin Growth Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Mutual Global Discovery VIP Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin NextStep Conservative Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Georgia Tax Free Income Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Virginia Tax Free Income Fund"/>
                <creditUser secFileNo="811-05583" fundName="Templeton Growth VIP Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin New Jersey Tax Free Income Fund"/>
                <creditUser secFileNo="811-04892" fundName="Templeton Growth Fund, Inc."/>
                <creditUser secFileNo="811-04149" fundName="Franklin North Carolina Tax Free Income Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin LifeSmart 2040 Retirement Target Fund"/>
                <creditUser secFileNo="811-09869" fundName="Franklin Floating Rate Income fund"/>
                <creditUser secFileNo="811-02781" fundName="Templeton Foreign Fund"/>
                <creditUser secFileNo="811-04894" fundName="Franklin Rising Dividends Fund"/>
                <creditUser secFileNo="811-06243" fundName="Franklin Natural Resources Fund"/>
                <creditUser secFileNo="811-23124" fundName="Franklin Liberty High Yield Corporate ETF"/>
                <creditUser secFileNo="811-05387" fundName="Franklin Mutual International Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin LifeSmart 2045 Retirement Target Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Arizona Tax Free Income Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Connecticut Tax Free Income Fund"/>
                <creditUser secFileNo="811-05387" fundName="Franklin Mutual Beacon Fund"/>
                <creditUser secFileNo="811-06481" fundName="Franklin California High Yield Municipal Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Maryland Tax Free Income Fund"/>
                <creditUser secFileNo="811-06336" fundName="Franklin India Growth Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Federal Intermediate Term Tax Free Income Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin Founding Funds Allocation Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Small Mid-Cap Growth VIP Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Colorado Tax Free Income Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin LifeSmart 2035 Retirement Target Fund"/>
                <creditUser secFileNo="811-02781" fundName="Templeton World Fund"/>
                <creditUser secFileNo="811-06378" fundName="Templeton Developing Markets Trust"/>
                <creditUser secFileNo="811-08226" fundName="Templeton Global Balanced Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Global Real Estate VIP Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Ohio Tax Free Income Fund"/>
                <creditUser secFileNo="811-00537" fundName="Franklin Utilities Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin Corefolio Allocation Fund"/>
                <creditUser secFileNo="811-05878" fundName="Franklin Mutual U.S. Value Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin Payout 2022 Fund"/>
                <creditUser secFileNo="811-02790" fundName="Franklin California Tax Free Income Fund"/>
                <creditUser secFileNo="811-06243" fundName="Franklin Growth Opportunities Fund"/>
                <creditUser secFileNo="811-06243" fundName="Franklin Biotechnology Discovery Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin LifeSmart 2055 Retirement Target Fund"/>
                <creditUser secFileNo="811-10157" fundName="Franklin Global Listed Infrastructure Fund"/>
                <creditUser secFileNo="811-07876" fundName="Templeton China World Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin Payout 2021 Fund"/>
                <creditUser secFileNo="811-05583" fundName="Franklin Small Cap Value VIP Fund"/>
                <creditUser secFileNo="811-10157" fundName="Franklin International Growth Fund"/>
                <creditUser secFileNo="811-06243" fundName="Franklin Select U.S. Equity Fund"/>
                <creditUser secFileNo="811-04356" fundName="Franklin California Intermediate Term Tax Free Income Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Oregon Tax Free Income Fund"/>
                <creditUser secFileNo="811-07851" fundName="Franklin Growth Allocation Fund"/>
                <creditUser secFileNo="811-06243" fundName="Franklin Strategic Income Fund"/>
                <creditUser secFileNo="811-10157" fundName="Franklin International Small Cap Fund"/>
                <creditUser secFileNo="811-04149" fundName="Franklin Pennsylvania Tax Free Income Fund"/>
                <creditUser secFileNo="811-23124" fundName="Franklin Liberty Senior Loan ETF"/>
                <creditUser secFileNo="811-02781" fundName="Templeton International Climate Change Fund"/>
                <creditUser secFileNo="811-05387" fundName="Franklin Mutual European Fund"/>
                <creditUser secFileNo="811-06135" fundName="International Equity Series"/>
                <creditUser secFileNo="811-00537" fundName="Franklin Focused Growth Fund"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>true</isInfoRequiredEO>
      <isOtherInfoRequired>true</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="Franklin Gold &amp; Precious Metals Fund" signature="Jeffrey W. White" signedDate="2022-06-14" title="Assistant Treasurer"/>
  </formData>
</edgarSubmission>
