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With more sangfroid than go-for-it gold, silver is having a moment this fall. Designers are revisiting the metallic’s Space Age-era appeal to polish up everyday separates, unadorned dresses and simple accessories. While the trend evokes the mod silver sheaths crafted by Paco Rabanne in the 1960s, this time around, the metallic is less conspicuously trendy. Silver has come of age, say designers: No need to underline its self-evident star power with avant-garde design.

Anthony Vaccarello, creative director at Saint…