* SPDR Gold holdings on Tuesday down 1 pct from Monday

* Platinum hits lowest since November 2008

* Silver touches lowest since April 2016

* GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXl

(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 XAU= was down 0.7 percent at $1,185.46 an ounceby 1106 GMT, after hitting its lowest since late January 2017 at$1,183.47.

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 GCcv1 were down 0.7 percent at $1,192 anounce.

"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. GOL/ETF CFTC/

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. urn:newsml:reuters.com:*:nL4N1V608I FRX/ .DXY

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. urn:newsml:reuters.com:*:nL5N1V50FZ

Holdings in SPDR Gold Trust GLD , the world's largestgold-backed ETF, fell 1.01 percent to 776.65 tonnes on Tuesday.Holdings have fallen to their lowest since February 2016, down11 percent from their peak in April.

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 XPT= slumped to its lowest since November2008 at $769.10 per ounce. It was last trading at $774, down 3percent.

Spot silver XAG= was 1 percent lower at $14.80, afterfalling to its lowest since April 1, 2016 at $14.76. Palladium XPD= was down 2.3 percent at $875.

(Reporting by Zandi Shabalala) ((zandi.shabalala@tr.com; +44 207 542 5937; Reuters Messaging:zandi.shabalala.thomsonreuters.com@reuters.net))