FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response...0.5
£	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
(Print or Type Responses)

1. Name and Address of Reporting Person* Peiker, Jr., Edwin W.	2. Issuer Name and Tickler or Trading Symbol Royal Gold, Inc. - "RGLD"						6. Relationship of Reporting Person(s) to Issuer                   (Check all applicable)
							X	Director		10% Owner
								Officer (give title below)		Other (specify below)
(Last)        (First)       (Middle) 1660 Wynkoop Street Suite 1000	3. I.R.S. Identification Number of     Reporting Person, if an entity     (voluntary) ###-##-####		4. Statement for Month/Year 11/02				7. Individual or Joint/Group Filing (Check Applicable Line)
			5. If Amendment, Date of     Original (Month/Year)				X	Form filed by One Reporting Person
(Street) Denver, CO 80202-1132								Form filed by More than One Reporting Person
(City)          (State)      (Zip)	Table I ¾ Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security     (Instr. 3)	2. Transaction Date     (Month/Day/Year)	3. Transaction     Code     (Instr.8)		4. Securities Acquired (A)     or Disposed of (D)     (Instr. 3, 4 and 5)				5. Amount of Securities     Beneficially Owned at     End of Month       (Instr. 3 and 4)	6.Ownership     Form: Direct     (D) or     Indirect (I)     (Instr. 4)		7.Nature of     Indirect     Beneficial     Ownership     (Instr. 4)
		Code	V	Amount	(A) or  (D)	Price

FORM 4 (continued)

Table II ` Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of     Derivative     Security     (Instr. 3)

2. Conversion     or Exercise     Price of     Derivative     Security

3. Transaction     Date (Month/Day/Year)

4. Transaction     Code     (Instr.8)

5. Number of     Derivative     Securities     Acquired (A)     or Disposed     of (D)     (Instr. 3, 4     and 5)

6. Date Exercisable    and Expiration Date    (Month/Day/Year)

7. Title and Amount of     Underlying Securities     (Instr. 3 and 4)

8. Price of     Derivative     Security     (Instr. 5)

9. Number of     Derivative     Securities     Beneficially     Owned at     End of     Month     (Instr. 4)

10. Ownership       Form of       Derivative       Securities       Beneficially       Owned at       End of       Month       (Instr. 4)

11. Nature of       Indirect       Beneficial       Ownership       (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Director Stock Option (NSO) (right to buy)

$19.77

11/12/02

A

5,000

50% exercisable immediately; remaining 50% exercisable 11/12/03

11/12/12

Common Stock

5,000

D

Explanation of Responses:

		/s/ Edwin W. Peiker, Jr., kg for		11/14/02
		**Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
	See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.