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REFILE-PRECIOUS-Gold extends gains as dollar, Asian stocks weaken

(Corrects first bullet point to show bullion gained 0.8 pct on
Tuesday, not Wednesday)
    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 had climbed 0.2 percent to $1217.08 per
ounce by 0037 GMT. Bullion gained 0.8 percent on Tuesday in its
biggest one-day gain since May 13.
    * U.S. gold 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. 
    * MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 0.3 percent.
    * The dollar index 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
 or 
  
    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. 
       
    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        

 (Reporting by Vijaykumar Vedala in Bengaluru; Editing by Joseph
Radford)
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