BENGALURU, June 1 (Reuters) - Gold rose early on Wednesday
after closing up the previous day for the first time in ten
sessions, supported by an easing dollar and weaker Asian stocks.
FUNDAMENTALS
* Spot gold XAU= had climbed 0.2 percent to $1217.08 per
ounce by 0037 GMT. Bullion gained 0.8 percent on Wednesday in
its biggest one-day gain since May 13.
* U.S. gold GCcv1 was up 0.2 percent at $1219.8.
* Asian stocks sagged on Wednesday as a slip in crude oil
prices dampened investors' appetite for riskier assets, while
the recently bullish dollar stalled against the euro and yen
following a mixed bag of U.S. economic data. MKTS/GLOB
* MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS fell 0.3 percent.
* The dollar index .DXY pulled back from Monday's
two-month peak of 95.895 to stand at 95.802.
* U.S. consumer spending recorded its biggest increase in
more than six years in April as households stepped up purchases
of automobiles, suggesting an acceleration in economic growth
that could persuade the Federal Reserve to raise interest rates
soon.
* The U.S. economy is on track to grow by a 2.9 percent
annualized rate in the second quarter following surprisingly
strong data on domestic personal spending in April, Atlanta
Federal Reserve's GDPNow forecast model showed on Tuesday.
* Prime Minister Shinzo Abe is essentially giving up on
fiscal reform by postponing a sales tax hike for two and a half
years, putting Japan's credibility on the line and heightening
the risk of a credit downgrade that could lift corporate
borrowing costs.
* The U.S. Mint sold 76,500 ounces of American Eagle gold
coins in May, down 27.5 percent from the previous month,
according to the latest data.
* For the top stories on metals and other news, click
TOP/MTL or GOL
MARKET REPORT
* Oil prices dipped on Tuesday as a stronger dollar and
slide in equity prices sparked profit-taking, but crude futures
posted a fourth straight monthly gain as investors bet the
global glut was slowly easing. O/R
DATA AHEAD (GMT)
0100 China official manufacturing PMI May
0100 China official non-manufacturing PMI May
0145 China Caixin manufacturing PMI final May
0755 Germany Markit/BME manufacturing PMI May
0800 Euro zone Markit manufacturing PMI final May
1400 U.S. construction spending Apr
1400 U.S. ISM manufacturing PMI May