Ownership Submission
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 *
Parcel Randy L
   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)
V.P & General Counsel
(Last)
(First)
(Middle)
1660 WYNKOOP STREET, SUITE 1000		 3. Date of Earliest Transaction (Month/Day/Year)
02/13/2007
(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 02/13/2007   M   1,500 A $ 22.22 29,975 D  
Common stock 02/14/2007   M   4,167 A $ 17.38 34,142 D  
Common stock 02/14/2007   M   1,833 A $ 22.22 35,975 D  
Common stock 02/14/2007   S   2,045 D $ 32.7 33,930 D  
Common stock 02/14/2007   S   2,755 D $ 32.8 31,175 D  
Common stock 02/14/2007   S   300 D $ 32.81 30,875 D  
Common stock 02/14/2007   S   100 D $ 32.82 30,775 D  
Common stock 02/14/2007   S   700 D $ 32.83 30,075 D  
Common stock 02/14/2007   S   100 D $ 32.85 29,975 (4) D  

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
Employee stock option - right to buy ISO) $ 22.22 02/13/2007   M     1,500 11/08/2006 11/08/2015 Common stock 1,500 $ 22.22 0 (1) D  
Employee stock option - right to buy NSO $ 17.38 02/14/2007   M   4,167   11/10/2006 11/10/2014 Common stock 4,167 $ 17.38 67 (2) D  
Employee stock option - right to buy NSO $ 22.22 02/14/2007   M     1,833 11/08/2006 11/08/2015 Common stock 1,833 $ 22.22 0 (3) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Parcel Randy L
1660 WYNKOOP STREET
SUITE 1000
DENVER, CO 80202		       V.P & General Counsel  

Signatures

 /s/Randy Parcel, kg for   02/14/2007
**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) Mr. Parcel is retiring from the Company effective February 15, 2007. The remaining 3,000 stock options granted under this Agreement have not vested and will be terminated.
(2) Mr. Parcel is retiring from the Company effective February 15, 2007. The remaining 4,100 unvested stock options under this agreement will be terminated.
(3) Mr. Parcel is retiring from the Company effective February 15, 2007. The remaining 3,667 options under this agreement have not yet vested and will be terminated.
(4) Mr. Parcel is retiring from the Company effective February 15, 2007. Of these 29,975 shares, 16,250 shares are restricted and have not yet vested and will be forfeited.

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