<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT TO
SHAREHOLDERS DATED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000764842
<NAME> UNITED GOLD & GOVERNMENT FUND, INC.
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                       16,787,689
<INVESTMENTS-AT-VALUE>                      17,608,504
<RECEIVABLES>                                  181,949
<ASSETS-OTHER>                                  10,229
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              17,800,682
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      175,908
<TOTAL-LIABILITIES>                            175,908
<SENIOR-EQUITY>                              2,566,750
<PAID-IN-CAPITAL-COMMON>                    31,394,104
<SHARES-COMMON-STOCK>                        2,566,750
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                          235
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                   (17,157,130)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       820,815
<NET-ASSETS>                                17,624,774
<DIVIDEND-INCOME>                              134,905
<INTEREST-INCOME>                              770,618
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (511,628)
<NET-INVESTMENT-INCOME>                        393,895
<REALIZED-GAINS-CURRENT>                   (5,222,029)
<APPREC-INCREASE-CURRENT>                  (1,441,037)
<NET-CHANGE-FROM-OPS>                      (6,269,171)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (391,190)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        373,927
<NUMBER-OF-SHARES-REDEEMED>                  1,317,316
<SHARES-REINVESTED>                             54,521
<NET-CHANGE-IN-ASSETS>                    (13,702,069)
<ACCUMULATED-NII-PRIOR>                          4,553
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          170,534
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                511,628
<AVERAGE-NET-ASSETS>                        24,379,525
<PER-SHARE-NAV-BEGIN>                             9.07
<PER-SHARE-NII>                                    .15
<PER-SHARE-GAIN-APPREC>                         (2.20)
<PER-SHARE-DIVIDEND>                             (.15)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               6.87
<EXPENSE-RATIO>                                   2.11
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>