Manila hosts International Galleon Conference

The Manila-Acapulco Galleon trade, an important economic infrastructure of Spanish colonial rule, was a flourishing trade that plied the Pacific Ocean, shuttling back and forth from Manila and Acapulco, Mexico from 1565 to 1815, carrying goods such as spices, porcelain, textile, furniture, gold ornaments, fixtures, etc is made famous by one single coin, the Spanish Peice of Eight.In an initiative to bring the understanding of the rich tradition of the galleon trade within the public realm, the Intramuros Administration is organizing the International Conference on the Galleon and the Making of the Pacific, on Nov. 9-11 at Villa Immaculada, Gen....

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Gold hits an all time high of $1045, dollar continues to plunge

Gold prices surged to a new high Tuesday as investors sought a safe harbor from a falling dollar and inflation.Gold for December delivery rose to as high as $1,045 an ounce, surpassing a previous intraday high of $1,033.90 logged in March 2008, just days after Bear Stearns Cos. collapsed.Gold also had a record high closing price, finishing the day at $1,039.70 an ounce, up $21.19, or 2.2 percent. Some analysts see the dollar rising to $1,100 in the coming days.Gold's advance was stoked by a tumbling dollar, which hit a 14-month low against the Australian currency after Australia became the first major country to raise interest rates since the...

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