Silver prices traded in range as worries faded over the potential damage of Hurricane Irma and as tensions on the Korean Peninsula took a backseat. Easing U.S.-North Korea tensions fuelled demand for riskier assets lifting global stocks to record highs for a second straight day. The relief rally continued for a second straight day, lowering demand for safe-haven gold as investors shrugged off fresh threats from North Korea after the United Nations imposed a fresh round of sanctions, restricting the country’s access to oil imports while limiting textile exports.

The Federal Reserve has raised U.S. interest rates twice this year in response to upbeat growth data and falling unemployment, but persistently soft inflation figures have tempered expectations for another hike in December.

U.S. President Donald Trump said on Tuesday that U.N. sanctions on North Korea agreed this week were a small step and nothing compared to what would have to happen to deal with the country's nuclear programme.

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