POWER OF ATTORNEY


We, the  undersigned  officers and  directors  of U.S.  Global  Investors,  Inc.
("Company"),  do hereby severally  constitute and appoint Frank E. Holmes, Susan
B. McGee,  David J. Clark and Thomas D. Tays and each of them acting singularly,
as our true and lawful  attorneys,  with full powers to them and each of them to
sign for us, in our names in the capacities  indicated  below, any Annual Report
for the  Company  on Form  10-K to be filed  with the  Securities  and  Exchange
Commission and to take such further action in respect  thereto as they, in their
sole  discretion,  deem  necessary  to enable  the  Company  to comply  with the
provisions  of the  Securities  Exchange  Act  of  1934,  as  amended,  and  all
requirements and regulations of the Securities and Exchange  Commission,  hereby
ratifying  and  confirming  our  signatures  as they may be  signed  by our said
attorneys to any and all  documents  related to said  amendments  to said Annual
Report.

IN WITNESS WHEREOF, we have hereunto set our hands on the dates indicated below.


       Signature                   Title                         Date
- ----------------------     -----------------------     -------------------------

/s/ Bobby D. Duncan
- ----------------------
BOBBY D. DUNCAN            Director                    October 21, 1997


/s/ Frank E. Holmes
- ----------------------
FRANK E. HOLMES            Chairman of the Board       October 21, 1997
                           of Directors,                           
                           Chief Executive Officer


/s/ Thomas F. Lydon, Jr.
- ------------------------
THOMAS F. LYDON, JR.       Director                    October 21, 1997


/s/ J. Stephen Penner
- ------------------------
J. STEPHEN PENNER          Director                    October 21, 1997



/s/ Jerold H. Rubinstein
- ------------------------
JEROLD H. RUBINSTEIN       Director                    October 21, 1997


/s/ Roy D. Terracina
- ------------------------
ROY D. TERRACINA           Director                    October 21, 1997


/s/ David J. Clark
- ------------------------
DAVID J. CLARK             Chief Financial Officer     October 21, 1997


/s/ J. Michael Edwards
- ------------------------
J. MICHAEL EDWARDS         Chief Accounting Officer    October 21, 1997