Change a "mare" into "gold"

Change a "mare" into "gold" in five steps. At
each step you can only change one letter.
The word you create at each step must be a
real word. For example, change "dogs" into
"path":
DOGS : dots : pots : pits : pith : PATH
MARE : ____ : ____ : ____ : ____ : GOLD


(Scoll Down for Solution)


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MARE:MALE:MOLE:HOLE:HOLD:GOLD

Or it is even possible in four moves:

MARE:MALE:MOLE:MOLD:GOLD