FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
WENGER STEFAN
  2. Issuer Name and Ticker or Trading Symbol
ROYAL GOLD INC [RGLD]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CFO and Treasurer
(Last)
(First)
(Middle)
1660 WYNKOOP STREET STE.1000
3. Date of Earliest Transaction (Month/Day/Year)
08/16/2017
(Street)

DENVER, CO 80202
4. If Amendment, Date Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (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 Following Reported Transaction(s)
(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
Common Stock 08/16/2017   F   661 (1) D $87.36 58,872 (2) I by Family Trust
Common Stock 08/18/2017   M   1,466 A $68.18 60,338 (2) I by Family Trust
Common Stock 08/18/2017   M   1,609 A $62.14 61,947 (2) I by Family Trust
Common Stock 08/18/2017   M   5,114 A $53 67,061 (2) I by Family Trust
Common Stock 08/18/2017   M   4,000 A $49.66 71,061 (2) I by Family Trust
Common Stock 08/18/2017   D   5,399 (3) D $87.01 65,662 (2) I by Family Trust
Common Stock 08/18/2017   F   2,367 (1) D $87.01 63,295 (6) I by Family Trust
Common Stock 08/18/2017   S   2,086 (4) D $87.4944 (5) 61,209 (6) I by Family Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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) 3A. Deemed Execution Date, if any (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 Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to buy ISO) $68.18 08/18/2017   M     1,466 08/18/2012 08/18/2021 Common Stock 1,466 $ 0 0 D  
Stock Option (Right to buy ISO) $62.14 08/18/2017   M     1,609 08/27/2014 08/27/2023 Common Stock 1,609 $ 0 0 D  
Stock Appreciation Right (SARs) $53 08/18/2017   M     5,114 11/18/2010 11/18/2019 Common Stock 5,114 $ 0 0 D  
Stock Appreciation Right (SARs) $49.66 08/18/2017   M     4,000 11/17/2011 11/17/2020 Common Stock 4,000 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
WENGER STEFAN
1660 WYNKOOP STREET STE.1000
DENVER, CO 80202
      CFO and Treasurer  

Signatures

 Margaret A Beck as Attorney-in-Fact for Stefan Wenger   08/18/2017
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Represents shares withheld to satisfy taxes; no shares were sold.
(2) Includes 16,666 shares of restricted stock that have not yet vested.
(3) Represents the difference between the number of SARs exercised (9,114)and the number of shares issuable as a result of the exercise (3,715).
(4) Includes shares sold to cover option costs.
(5) The range of the weighted average sales price is $87.48 to $87.51.
(6) Includes 14,999 shares of restricted stock that have not vested.

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