By Pham-Duy Nguyen Nov. 25 (Bloomberg) -- Gold futures rose for the fifth straight session in New York as a decline in the dollar boosted the appeal of the precious metal as an alternative investment. Silver and platinum also gained. The dollar fell for the third day in a row against the euro after the Federal Reserve pledged $800 billion to help ease the credit crisis for homeowners, consumers and small businesses. Gold and most metals often move in the opposite direction of the U.S. currency. Before today, gold fell 2.1 percent this year as the dollar rallied 11 percent against the euro. “With the flood of liquidity, that’s going to float the boats and sink the dollar,” said Ron Goodis, a retail trading director at Equidex Brokerage Group Inc. in Closter, New Jersey. “Commodities look set to stage a comeback on the dollar weakness. The real strength is likely to be in gold.” Gold futures for February delivery rose $8.60, or 1.1 percent, to $829 an ounce at 9:19 a.m. on the Comex division of the New York Mercantile Exchange. The price climbed 12 percent in the previous four sessions. Silver futures for March delivery gained 13.2 cents, or 1.3 percent, to $10.51 an ounce on the Comex. Platinum futures for January delivery rose $9.10, or 1.1 percent, to $875.50 an ounce on the Nymex. Palladium for March delivery climbed $6.10, or 3.1 percent, to $203 an ounce. To contact the reporter on this story: Pham-Duy Nguyen in Seattle at pnguyen@bloomberg.net.

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