India and China with their large economies growing at 7 and 10 percent respectively are playing a significant role in global economic recovery, according to a top International Monetary Fund (IMF) official.

Gold struck another historic peak of Rs 18,000 per ten gram in the national capital today on sustained buying by stockists for the current marriage season amid a weakening dollar and reports that more central banks might purchase gold from the IMF.

India's purchase of 200 tonnes of gold for $6.7 billion from the International Monetary Fund (IMF) "shows central banks are getting on board with the idea that the bull market in gold still has legs," according to Forbes magazine.

The International Monetary Fund has sold 200 tonnes of gold worth $6.7 billion to the Reserve Bank of India to shore up the Fund's finances.