Markets up but gold set for largest weekly fall since 2009

Markets have continued to move higher following a co-ordinated effort by the world's central banks to inject liquidity into the banking system.

The Federal Reserve, European Central Bank, Bank of England, Bank of Japan and Swiss National Bank announced yesterday they would lend banks dollars in three sets of three-month loans in order to ease funding concerns. Markets closed higher overnight in reaction, with more gains seen in early trading Friday. The FTSE 100 rose by 0.9% to 5,384 at the open after three straight days of gains, with Lloyds, RBS and Barclays posting gains of around 3% each. European markets also climbed at the open, France's Cac 40 up 1.1% to 3,078 and the Dax up 1.5% to 5,593 in Germany. In Asia, the Ni...