Washington, D.C.

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 3, 2003

                      U.S. GLOBAL INVESTORS, INC.
             (Exact name of registrant as specified in its charter)

       Texas                      0-13928                  74-1598370
  (State of other juris-        (Commission                IRS Employer
 diction of incorporation)      File Number)             Identification No.)

    7900 Callaghan Road, San Antonio, Texas                 78229
    (Address of principal executive offices)              (Zip Code)

Registrant's telephone number, including area code: 210-308-1234

       (Former name or former address, if changed since last report)

Item 12. Results of Operations and Financial Condition.

On  December  3,  2003,  U.S.  Global  Investors,  Inc.  issued a press  release
reporting  earnings and other  financial  results for its third quarter of 2003,
which ended  September  30,  2003.  A copy of the press  release is attached and
being furnished as Exhibit 99.


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                    U.S. Global Investors, Inc.

                                                     By:/s/ Tracy C. Peterson
                                                        Tracy C. Peterson
                                                        Chief Financial Officer

Dated:   December 3, 2003