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 Tuesday in its biggest one-day gain since May 13.

* US 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 US 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.

* US 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 US economy is on track to grow by a 2.9 percent annualised 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 US 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]