* Platinum hits lowest since November 2008
* Silver touches lowest since April 2016
* GRAPHIC-2018 asset returns:
(Updates throughout, changes dateline from BENGALURU)
By Zandi Shabalala
LONDON, Aug 15 (Reuters) - Gold fell to a more than 18-monthlow on Wednesday as the dollar climbed towards its highest inover a year on concerns about global market contagion triggeredby recent declines in the Turkish lira.
Spot gold
The precious metal failed to make a convincing rebound inthe previous session after it fell below the psychologicallyimportant $1,200 level for the first time in more than a year onMonday.
U.S. gold futures
"The story for gold is very much about dollar strength andemerging market weakness," said Mitsubishi analyst JonathanButler.
"It's risk aversion, which is something that should besupportive of gold, but ... this is happening in an environmentwhere the dollar is looking very strong relative to other majorcurrencies and emerging market currencies."
The yellow metal has declined about 9 percent this year,pressured by rising U.S. interest rates, a soaring dollar and afailure to capitalize on its traditional role as a hedge againstglobal uncertainties.
Investors have opted for U.S. Treasuries, seen as theultimate safe haven, which meant they had to buy dollars, whilebearish sentiment on gold has led to liquidations inexchange-traded funds (ETFs) and a record level of shortpositions.
The dollar rose to its highest level since June 2017 onworries over President Tayyip Erdogan's calls for lower interestrates and fraying ties between the United States and Turkey, aNATO ally.
The greenback, in which gold is priced, has also beenbolstered by a fall in the euro, which has been dogged byconcerns over the European banks' exposure to Turkey.
Erdogan said on Tuesday Turkey would boycott electronicproducts from the United States, retaliating in a row withWashington that has sent the lira to record lows.
Holdings in SPDR Gold Trust
Support is at a recent low of $1,191.80, followed by the$1,150 level, while resistance is at $1,219.60, ScotiaMocattasaid in a note.
Spot platinum
Spot silver
(Reporting by Zandi Shabalala) ((zandi.shabalala@tr.com; +44 207 542 5937; Reuters Messaging:zandi.shabalala.thomsonreuters.com@reuters.net))