* Gold tracks oil lower after OPEC delays third supply cut * Nikkei falls nearly 2 percent * Investors await U.S. data, which could set tone for dollar * General Motors reviews new turnaround plan for bailout (Updates prices) SINGAPORE, Dec 1 (Reuters) - Gold slipped on Monday after oil dropped more than $1 and profit taking hit Japanese shares, while a series of U.S. data which could set the tone for the dollar was likely to discourage investors from taking large positions. Gold has bounced more than 18 percent since tumbling to a 13-month low of $680.80 an ounce late in October but a firmer dollar and weaker oil prices capped the upside. Bullion rallied to a six-week high of $830.10 last week before easing. Gold was trading at $811.30 an ounce, down $1.70 from New York's notional close on Friday. Gold, which posted its biggest monthly gain since 1999 in November, was still below a lifetime high of $1,030.80 struck in March. "Gold pretty much hovered around the $810-$820 levels for most of the past week and I think we could see a much larger and clearer direction when we break out of those regions," said Adrian Koh, analyst at Phillip Futures in Singapore. "I am a bit mixed on gold. Maybe the economic indicators will play a part in that direction," he said. Oil CLc1 dipped more than a dollar after producer cartel OPEC decided over the weekend to delay a third supply cut to later in December, putting greater pressure on prices and reducing gold's appeal as a hedge against inflation. [O/R] The euro slipped to $1.2657 , which also put pressure on gold. A raft of U.S. economic data this week, including retail sales and the key jobs figures due on Friday, will test the incipient recovery seen in emerging markets during the past few days. [USD/] Other precious metals also tracked gold lower. Platinum, which hit a two-week high at $874.50 on bargain hunting last week, fell back as the outlook remained uncertain amid dismal car sales and worries about a severe global recession. Japan's Nikkei share average .N225 fell 2.0 percent on Monday as global recession fears prompted investors to book profits after last week's rally. [.T] Platinum was trading at $847.50 an ounce, down $24.00 from New York notional close and well below a record high of $2,290 hit in March. "From the looks of the platinum charts, we look like we've found a bit of a ground around the $750-$850 regions. It may be a bit early to determine whether it's a bottom or not," said Koh of Phillip Futures. "Not forgeting that the financial crisis is still the crux here and the the auto industry woes are not over yet," he said. The board of General Motors Corp (GM.N: Quote) met on Sunday to review a restructuring plan intended to cut costs and win support for up to $12 billion in emergency funding from the U.S. government. [ID:nN30477996] More than 60 percent of global platinum use goes to autocatalysts to clean exhaust fumes. New York gold futures GCZ9 fell $5.8 an ounce to $813.2 in electronic trade. Precious metals prices at 0226 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 811.30 -1.70 -0.21 -2.57 Spot Silver 10.17 -0.09 -0.88 -31.14 Spot Platinum 847.50 -24.00 -2.75 -44.24 Spot Palladium 184.50 -2.00 -1.07 -49.86 TOCOM Gold 2475.00 -8.00 -0.32 -19.12 11101 TOCOM Platinum 2618.00 -4.00 -0.15 -50.96 6234 TOCOM Silver 309.40 -3.80 -1.21 -42.81 260 TOCOM Palladium 574.00 -9.00 -1.54 -57.51 303 Euro/Dollar 1.2658 Dollar/Yen 95.30 TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices in $ per ounce. (Reporting by Lewa Pardomuan; Editing by Ben Tan)

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