Gold's Outlook Dims Amid Strong Dollar and Improved Risk Sentiment

According to BlockBeats, StoneX analyst Fawad Razaqzada has indicated that the outlook for gold has become bleak due to improved risk sentiment and the potential strengthening of the U.S. dollar.A stronger-than-expected U.S. employment report on Friday has encouraged market bets on a stronger dollar, further diminishing gold's appeal as a safe-haven asset. While there is a possibility of a short-term pullback in gold prices, Razaqzada noted that technical trading indicators remain bullish, suggesting potential for a rebound.