New York gold futures extended their winning streak Wednesday with the key contract hitting an all-time record, passing $1,122 an ounce in after-hours trading.

Its close for the day was also a record high at $1,114.60, up 12.10, on the New York Mercantile Exchange's Comex division. The most-active gold contract for December delivery finished higher for the seventh session in a row.

The rise was prompted by funds and other players buying on the heels of the dollar's decline against the euro and other currencies in Europe and on a report that Vietnam will lift an embargo on gold imports.