Filipinos fete Year of Rabbit with golden cakes

MANILA, Philippines The rabbit-shaped glutinous rice cakes sell for between $500 and $2,700 and are covered with 24-carat gold foil and a few small diamonds.

The creator of the custom-baked sweets, Angelito Araneta Jr., says they are meant to attract wealth as well as secure good ties with friends and kin.

Chinese-Filipinos traditionally share glutinous rice cakes with family and friends to celebrate the Lunar New Year, which falls on Thursday this year.