By Sungwoo Park April 12 (Bloomberg) -- Gold rose for a sixth day and reached a four-month high as a drop in the dollar spurred demand for bullion as an alternative investment. The dollar fell as much as 1.2 percent against a basket of six currencies including the euro, which climbed for a third day after European governments offered Greece a rescue package worth as much as 45 billion euros ($61 billion) at below-market interest rates. Investment in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, climbed to a record on April 9. “The dollar is falling as risks in the European zone are being eased,” said Chris Yoo, head of global derivatives at Samsung Futures Inc. in Seoul. “The euro is surging now and gold is gaining too.” Gold for immediate delivery rose as much as 0.7 percent to $1,170 an ounce, the highest level since Dec. 4, and was at $1,165.45 at 10:12 a.m. in Seoul. The June-delivery contract in New York rose as much as 0.8 percent to $1,170.70 an ounce and was last at $1,166.40. Futures rallied 3.2 percent last week, the most since Feb. 12. Forced into action by a surge in Greek borrowing costs to an 11-year high, euro-region finance ministers said yesterday they would offer as much as 30 billion euros in three-year loans in 2010 at about 5 percent. That’s less than the current three- year Greek bond yield of 6.98 percent. Another 15 billion euros would come from the International Monetary Fund. Bullion Holdings Holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by the metal, rose 0.61 metric ton to a record 1,141.04 tons, according to the company’s Web site. The amount increased 1 percent last week as gold prices rallied on demand for a haven against currency investment. Platinum for immediate delivery gained as much as 0.9 percent to $1,738.75 an ounce, the highest level since Aug. 1 2008 before trading at $1,735.50 an ounce at 10:11 a.m. Seoul time. Silver for immediate delivery advanced 0.7 percent to $18.5425 an ounce.

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