FXstreet.com (Barcelona) - Gold continues surging at a steady pace fuelled by dollar weakness, gold prices have surged to a new all time high during Asian session at $1.195 an ounce with the Dollar at 14 year low against the Yen and at 15-month low against the Euro.

USD/JPY decline from week high at 89.20 accelerated on Wednesday, breaking below 88.00 and the pair extended its fall through previous year low at 87.00/05 during Asian session to reach a fresh 14-year low at 86.20.

EUR/USD which is showing a rather close correlation with gold prices has extended its rally from 1.4880 low on Wednesday breaking above 1.5100 to hit a fresh 14-month high at 1.5145.