Reuters first to report a huge leap in gold holdings

Reuters was almost a day ahead on Sept 30 in reporting a huge leap in gold holdings by the world`s biggest gold-backed exchange-traded (ETF), a keenly watched indicator of investor demand for bullion. Networking with gold traders and industry officials at a conference, Reuters learned that the SPDR ETF was set to report a 30-tonne increase in holdings to a new record high after a surge in demand the previous day, when investors shocked by the U.S. rejection of a $700 billion bailout package rushed for the safety of bullion. The SPDR trust confirmed the figure only late in the day, while other agencies reported the rise a full day later. The news was cited widely in analyst reports.