Report of Independent Registered Public Accounting Firm
To the Board of Trustees and Shareholders of
Franklin Gold and Precious Metals Fund
In planning and performing our audit of the financial statements
 of Franklin Gold and Precious Metals Fund (the "Fund") as of
 and for the year ended July 31, 2019, in accordance with the
 standards of the Public Company Accounting Oversight Board
 (United States) (PCAOB), we considered the Fund's internal
 control over financial reporting, including controls over
safeguarding securities, as a basis for designing our auditing
 procedures for the purpose of expressing our opinion on the
 financial statements and to comply with the requirements of
 Form N-CEN, but not for the purpose of expressing an opinion
 on the effectiveness of the Fund's internal control over
financial reporting. Accordingly, we do not express an opinion
 on the effectiveness of the Fund's internal
 control over financial reporting.
The management of the Fund is responsible for establishing
 and maintaining effective internal control
over financial reporting. In fulfilling this responsibility,
 estimates and judgments by management are required to
assess the expected benefits and related costs of controls.
 A company's internal control over financial reporting is a
 process designed to provide reasonable assurance regarding
the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance
 with generally accepted accounting principles. A company's
 internal control over financial reporting includes those
policies and procedures that (1) pertain to the maintenance
 of records that, in reasonable detail, accurately and fairly
 reflect the transactions and dispositions of the assets of
the company; (2) provide reasonable assurance that transactions
 are recorded as necessary to permit preparation of financial
 statements in accordance with generally accepted accounting
 principles, and that receipts and expenditures of the company
 are being made only in accordance with authorizations of
management and directors of the company; and (3) provide
reasonable assurance regarding prevention or timely detection
 of unauthorized acquisition, use or disposition of a
company's assets that could have a material effect
 on the financial statements.
Because of its inherent limitations, internal control over
 financial reporting may not prevent or detect misstatements.
 Also, projections of any evaluation of effectiveness to future
 periods are subject to the risk that controls may become
 inadequate because of changes in conditions, or that the
 degree of compliance with the policies or procedures
 may deteriorate.
A deficiency in internal control over financial reporting
 exists when the design or operation of a control does not
 allow management or employees, in the normal course of
performing their assigned functions, to prevent or detect
 misstatements on a timely basis. A material weakness is a
 deficiency, or a combination of deficiencies, in internal
 control over financial reporting, such that there is a
reasonable possibility that a material misstatement of
the company's annual or interim financial statements
will not be prevented or detected on a timely basis.
Our consideration of the Fund's internal control over
 financial reporting was for the limited purpose described
 in the first paragraph and would not necessarily disclose
 all deficiencies in internal control over financial reporting
 that might be material weaknesses under standards established
 by the PCAOB. However, we noted no deficiencies in the Fund's
 internal control over financial reporting and its operation,
 including controls over safeguarding securities, that we
consider to be a material weakness as defined
above as of July 31, 2019.
This report is intended solely for the information and use
 of the Board of Trustees of Franklin Gold and Precious Metals
 Fund and the Securities and Exchange Commission and is
not intended to be and should not be used by anyone
other than these specified parties.
San Francisco, California
September 17, 2019