For the third day in a row, gold has strengthened as the market continues to digest the U.S. economic plan (or lack of a plan to be more specific).

Analysts claim that stocks lost ground yesterday even in the wake of a positive retail sales data report because of the lack of confidence in the governments economic package and an overall lack of investor confidence in the economy.

Gold traded up $4.70 an ounce to $948.50 in New York, the highest the metal has been since July.

Corner Office Comments

My buy in of the Streetracks Gold Trust (GLD: chart, web, Y!) last Tuesday seems to be gaining, and I suspect the trend will continue, at least until Tim Geithner releases more details on the bank and credit bailout… round two.

Investing GLD, gold